MIAMI VALLEY-- The 2015 filing season for taxes starts today.
It's going to be a busy day for IRS agents as they begin processing all returns this Tuesday morning (January 20, 2015).
This years tax return includes provisions for the Affordable Care Act. Those who did not have health insurance during 2014 could end up paying more than expected.
Under the new requirements those who did not have insurance and did not qualify for one of the exemptions will pay a minimum fo $95. But families bringing in more income will end up paying 1% of their household income as a penalty.
The majority of taxpayers will need to check a box to verify they have health insurance coverage.
The IRS expects to get around $150 million tax returns this year on average, you should get your return within 21 days.
Taxpayers have until April 15 to file their 2014 returns and pay any fines.
It's going to be a busy day for IRS agents as they begin processing all returns this Tuesday morning (January 20, 2015).
This years tax return includes provisions for the Affordable Care Act. Those who did not have health insurance during 2014 could end up paying more than expected.
Under the new requirements those who did not have insurance and did not qualify for one of the exemptions will pay a minimum fo $95. But families bringing in more income will end up paying 1% of their household income as a penalty.
The majority of taxpayers will need to check a box to verify they have health insurance coverage.
The IRS expects to get around $150 million tax returns this year on average, you should get your return within 21 days.
Taxpayers have until April 15 to file their 2014 returns and pay any fines.