Failure To File Tax Returns May Result In Loss Of Affordable Health Care
Kelly Phillips Erb
Forbes Staff
In any given year, about 7% of taxpayers will opt to file an extension for filing their individual federal income tax returns. The Internal Revenue Service (IRS) and the White House are hopeful that included in those requesting an extension are about 1.8 million households that relied on subsidies to pay for health insurance. Why? Because the new health care law requires that some households file tax returns in order to receive their subsidies – even if those households aren’t otherwise required to file a tax return because of their income…
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