Obamacare Penalty Tax Chart

Obamacare Penalty Tax Chart

-

Here is the current Obamacare Penalty Tax Chart.  

Most people who do not purchase health insurance in 2014 and beyond will have to pay a tax that increases in severity each year.  Currently, the IRS plans to enforce this Federal requirement by deducting penalties from tax refunds.  If not tax refunds are due the individual, family or business, the penalties will accrue and be garnered as future tax refunds are do the taxpayer(s).  The Obamacare penalty tax increases after 2014 and is forecast to be somewhere between 2.5% and 3% of family income down the road.

 

Obamacare Tax Penalties

 

Obamacare Tax Increases