Millions to Owe Obamacare Tax Penalty

The penalty is $95, or 1% of income above a certain threshold

Millions to Owe Obamacare Tax Penalty

Tami Luhby | CNN


Some 3 million to 6 million Americans will have to pay an Obamacare tax penalty for not having health insurance last year, Treasury officials said Wednesday.

It’s the first time they have given estimates for how many people will be subject to a fine.

The penalty is $95, or 1% of income above a certain threshold (roughly $20,000 for a couple). So you could end up owing the IRS a lot of money.

Take a married couple with $100,000 in income – their bill comes to $797, according to the Tax Policy Center ACA penalty calculator.

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