There Is a Bright Side for Early Filers Victimized by Obamacare Gaffe

There’s been no shortage of complaints and problems with Obamacare since the nations new health care coverage law went into effect. In fact, the debate continues to rage on and another major decision from the U.S. Supreme Court is forthcoming in the months ahead. However, for the time being, Obamacare has been a problem for many taxpayers at this time of year.

The biggest gaffe came when the Obama administration announced in February that as many as 800,000 taxpayers who followed directions and purchased their health insurance through the government marketplace had received invalid tax statements. The government mailed out Form 1095-A, which showed healthcare credits, to millions. However, up to 800,000 of the forms that the government sent contained the wrong information.

The good news is that only about 50,000 people among the 800,000 had field their taxes before the mistake was discovered. So what about those 50,000? Will they be penalized? There’s more good news. The Department of Treasury has announced that anyone who has already filed their taxes with the incorrect information will not have to file an amended return. Therefore, even those who would have ended up owing more if they had filed their tax return with the correct information will not have to worry about re-filing.

Posted in
Maynard Webb talks with Alan Olsen on the American Dreams Show.

Maynard Webb, Author of “Dear Founder: Letters of Advice for Anyone Who Leads, Manages, Or Wants to Start a Business”

Transcript: Alan Olsen: Can you tell us a little about your background? Maynard Webb: I majored in criminal justice in college and was going to go on to law school.  I got hired by IBM my senior year as a co-op student and a security guard, and then I was hired permanently by them and shipped from…

Charitable Donations May Avoid Capital Gains Tax

Charitable Donations May Avoid Capital Gains Tax

Charitable Donations May Avoid Capital Gains Tax Charitable donations may avoid capital gains tax if structured properly. Many family offices choose to be engaged in philanthropy at some level. Unfortunately, selling stocks and other securities in order to make a charitable donation often results in the need to pay capital gains tax. One way to…

Service Through Public Health | Dr. Jacob Eapen

Transcript: Alan Olsen: Can you share a little about your background?   Dr. Jacob Eapen: I was born and brought up in India in a southern part of Indian, a state called Kerala. Did my undergraduate, Doctorate and did my post graduation there and moved to Africa where I was a consultant pediatrician for a…

DeAnna Morgan

Holding the Sun, Poems of Inspiration from the Travels of DeAnna Morgan

Interview transcript for the American Dreams Show “Holding the Sun, Poems of Inspiration from the Travels of DeAnna Morgan”: Alan Olsen: Your husband, Randal Morgan, has a documentary film degree out of Stanford, how did get involved in helping with documentaries and what role was that?   DeAnna Morgan: I always was in the background with…