August 08th, 2016
TAX TIP OF THE DAY... avoid Obamacare subsidy surprises
If you are receiving a subsidy to help pay for Obamacare health insurance, be sure to update the Marketplace about changes that could affect your subsidy. This includes changes to: your income, number of household members, marriage filing status.
If you have an unreported change, you will be required to repay all or a portion of the excess subsidy paid to you. My office specializes in minimizing this repayment.
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David S. Baboian, CPA