Tax confusion spurs ACA extension

The federal government is extending the signup period for health insurance under the Affordable Care Act for people who misunderstood tax filing requirements in 2014, according to The Hill.

The deadline will be extended from Jan. 31 to March 31 for those who tried to enroll in 2016, but failed to file a tax return in 2014, according to the report. Many people who received tax credits in 2014 may not have realized they needed to file a tax return to continue to be eligible for tax credits starting in 2016, making health coverage unaffordable.

The new period of time is intended to give those people a chance to sign up and receive tax credits if they go back and file a 2014 tax return.

The federal government said about 43,000 applicants lost tax credits due to unfiled 2014 returns, according to the report.

 

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