DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

Premium Tax Credit: Upcoming Tax Surprise?

Premium Tax Credit: Upcoming Tax Surprise?
Here is a quick quiz to see if you are at risk

Based upon a recent report given to the Federal government evaluating data inconsistencies with the new health insurance market exchanges, over a million taxpayers could owe the government money at tax time. Here is a quick quiz to see if this risk applies to you.

Q1. Did you apply for health care insurance on either the new Federal Marketplace or a state run insurance exchange?

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Surprise... You OWE!

Picture this; for the past few years you have picked up your tax return and have had a small but nice refund. Now imagine your surprise, when next year, you are required to send in a fairly big check to settle your tax bill. Believe it or not, this message is almost as hard to deliver to a taxpayer as it is to hear it. Here are some tips to help ensure tax changes do not come as a surprise to you.

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