posted August 25, 2014 02:15 PM            

Tax refunds may get hit due to health law credits.
*snippet*

Nearly 7 million households have gotten health insurance tax credits, and major tax preparation companies say most of those consumers appear to be unaware of the risk.

"More than a third of tax credit recipients will owe some money back, and (that) can lead to some pretty hefty repayment liabilities," said George Brandes, vice president for health care programs at Jackson Hewitt Tax Service.

Two basic statistics bracket the potential exposure:

The average tax credit for subsidized coverage on the new health insurance exchanges is $264 a month, or $3,168 for a full 12 months.

The average tax refund is about $2,690.

Having to pay back even as little as 10 percent of your tax credit can reduce your refund by several hundred dollars.

find the entire gem here:
http://finance.yahoo.com/news/tax-refunds-may-hit-due-084734465.html

posted August 27, 2014 11:06 AM            

Does anyone here budget thru the year banking on an exact dollar amount of refund? Most people aren't so sure what it will work out to be are they? Apparently these folk dont even know what their income will be so they calculate their refunds how?

Sounds like the "socialist" gift that keeps providing opportunities for silly scare stories.