Daily Archives: January 19, 2015

Obamacare Penalty: More than $95! Who Knew?

“People would hear the $95, quit listening, and make an assumption that that was what their penalty was going to be,” said Chuck Lovelace, vice president of affordable care for Liberty Tax Service. “I think that a lot of people will be surprised when they get in there and find out that their penalty is [based] on their household income.”

via Obamacare penalty may come as shock at tax time – Washington Times.

For most, the penalty for 2014 is 1% of taxable income and for 2015 it will be 2%.