Put this under the “never ending Obamcare glitches” category.
The Senate Permanent Subcommittee on Investigations is looking into why the vast majority of H&R Block customers enrolled in Obamacare are being forced to pay the IRS hundreds of dollars after filing their tax returns. More from Fox News:
Committee investigators also point to an analysis by H&R Block that found almost two-thirds of its filers receiving an ObamaCare tax credit owed the government at the end of the year. On average, those filers were required to repay more than $700 of their ObamaCare subsidies. The study found most customers claiming the credits were confused about the requirements.
ObamaCare offers eligible consumers government-funded tax credits to buy insurance on exchanges. The federal government sets the amount based on a recipient’s stated income, family size and whether an applicant’s job offers health coverage. Generally, the health care law offers larger subsidies to those earning less, and with larger families. If a customer finishes the year earning more than they stated on their ObamaCare insurance application, the law requires them to repay a portion of the credit.
