No Health Insurance? You May Face a Tax Penalty

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Anyone in the Valley filing taxes this year may be facing an additional penalty if they don?t have health insurance. (KFSN)

Anyone in the Valley filing taxes this year may be facing an additional penalty if they don't have health insurance. Some people may be hit especially hard when they find out that fee could cost them hundreds of dollars.

Tax season is in full swing at H&R Block. This year specialists are dealing with a new type of clientele. People like Gregory Gorena say they can't afford to pay out of pocket for healthcare while he goes to school. "I do what I have to do pay my bills," said Gorena.

Gorena is expected to shell out about a hundred bucks as a penalty after the passage of the Affordable Care Act. "I knew it was coming from the beginning but I find it hard on us. We all pay our taxes and everything so why should we get hit with a penalty for not having insurance," said Gorena.

A spokesperson for the IRS says adults who were uninsured in 2014 will be penalized $95 under the law. The penalty for a child is about $45. That amount could go up to about one percent of your annual adjusted income.

Tax preparer Jerrell Snyder told us in some cases his clients with no healthcare provider will pay up to $1,000 based on their earnings. "I think people are confused they didn't really understand this," said Snyder.

A representative for the Affordable Care Act says anyone with questions can go online to find out whether they'll be impacted by the new law.
Related Topics:
taxeshealth insuranceaffordable care act
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