Tax Surprise Looming for Obamacare Enrollees

Obamacare enrollees who got subsidies to help pay for health-insurance coverage will soon have to reconcile how much they earned in 2014 with how much they estimated when they first applied. This will likely lead to some very unhappy Americans, as CNN puts it. That’s because those who underestimated their income will either get smaller tax refunds or owe the IRS money. Subsidies, as the report explains, are tax credits based on actual income. But enrollees got their 2014 subsidy before knowing exactly what they’d make that year. They’ll have to reconcile the two with the IRS during the upcoming tax filing season.