Some taxpayers could end up owing the U.S. Treasury money when they file their 2014 taxes next year.
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It’s not too early to start thinking about the tax implications of health care reform.
Did you buy health insurance through one of the exchanges? You might be eligible for a refundable tax credit. Taxpayers had the option of estimating their 2014 income to see if they qualified for the credit and then having it applied in advance to the cost of the premiums.
“We have an opportunity in the 2014 filing season to educate taxpayers about what they need to do during the year to avoid problems during the 2015 filing season,” National Taxpayer Advocate Nina Olson said.