A lot of people who received subsidies from ObamaCare in 2014 are finding out that the Affordable Care Act is forcing them to pay that money back to the Internal Revenue Service because the administration did a poor job of spreading important information. When individuals enrolled in the program at the beginning of last year they had to estimate their income for 2014. The amount of the subsidy that the individual would receive was based on this estimate. Some people thought they could get away with receiving higher monthly subsidies if they intentionally estimated a low income for 2014, while many others simply had no idea what their incomes would be. What many of these people were not aware of was that they were responsible for informing the government if they had an unexpected rise in their incomes that would invalidate their original estimate. If somebody’s income rose past their original estimate and they did not report it, then they would have received a larger subsidy than the law allowed.
Read more about A lot of people have to pay back their 2014 ObamaCare Subsidies to the IRS
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