Did you overpay the Obamacare tax penalty? Were you in the know of the reason you should pay or not pay? Dr. Taffy has been teaching individuals for the last couple of years what the mandate stated when it came to the penalty and whether a person had to pay or not.
Fast forward to 2015 and we read this article titled, “Did you overpay the Obamacare Tax Penalty?” We continued to read and it states more than 300,000 overpaid the IRS because they incorrectly stated they owed the Individual Shared Responsibility.
So if they overpaid and the IRS is aware of that, will they refund the people? Hmmm, from what we read in the article more than likely not!! So if you paid YOUR money to the IRS because you were attempting to do the right thing and they discovered you overpaid, why wouldn’t they REFUND you the money back? Wouldn’t that make the IRS appear better in the eyes of the consumer?
Look at the story for yourself – Overpay Obamacare IRS Tax penalty . Now we shudder to think the amounts that people overpaid. We would think they would benefit from getting that money back. So that is what happened for 2014. What do you think will happen for 2015? Before tax time came in 2016 for 2015, we would be talking with an accountant and even a health insurance broker to make sure we had all of our ducks in a row.
Dr. Wagner talked with some people that owed money and had health insurance, they were not happy in the least. They felt as if they had been taken advantage of. Now in the case of paying when you didn’t have to, that seems like people were placed in the same position. This is why we recommend your being your own best advocate.
What you don’t know CAN HURT YOU in more ways than one. Do not bury your head in the sand and go along with the status quo. Get INVOLVED in your care and finances.