The main source of the confusion, the Affordable Care Act. This tax season you'll have to worry about something you've never had to worry about before - proving you have health insurance. The ACA requires you to have health insurance.Certified Public Accountant Dean Owen says if you haven't signed up, it's important to secure healthcare now, or face a steep penalty. For a family of four this could add up to nearly $1,650.
Even if you meet the requirements, Owen says tax refunds for those who purchased insurance from online marketplaces like kynect will be significantly smaller.Owen says, "Subsidy premiums for those who paid up on the exchange, those were advanced tax credits. You'll have to true up at tax season, and estimates predict more people are going to owe money at tax season.
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