Obamacare WILL bring a paperwork feast – For tax preparers, PPACA may bring a paperwork feast | LifeHealthPro. Only the sun coming up tomorrow morning is more certain.
At this point, Liberty Tax is predicting the PPACA form business will increase fee revenue about 2.5 percent to 3 percent in 2015, and more than that in 2016.
One source of optimism: Liberty Tax believes Form 8962 will be intimidating enough to force many consumers who have been doing their own taxes to seek professional help.
“Our franchisees are prepared for a robust tax season,” Hewitt said. (Hewitt is chairman of Liberty Tax – Ed)
Bill Cobb, president of H&R Block, is also looking forward to an increase in the percentage of tax filers who seek professional help. “Those that received an advanced tax credit will no longer be eligible to file their returns on a 1040EZ,” he said. (emphasis added in this quote)
This is going to be a giant mess. Keep it simple stupid and Obamacare are on opposite sides of the universe.