Preschool teacher Michele Ryan was nearly in tears when she filled out her 2020 taxes and learned that she owes the government more than $3,100 despite being unemployed for a significant portion of last year. She owes about $1,000 in taxes on unemployment income, but the bulk of her bill - $2,100 - is to repay some of the subsidy she received to buy health insurance last year.
According to the federal government, Ryan earned too much money on unemployment. It was more money than she would have made working as a preschool teacher, and it bumped her into a different income bracket that reduced her Affordable Care Act insurance subsidy. She’s desperate to keep health insurance in the middle of the pandemic and is trying to figure out how to pay the hefty bill.
“Where do I come up with all of this money to pay them back during the pandemic?” said Ryan, 50, who lives in Bergen County, N.J. “What did they expect us to do? Drop Obamacare during the pandemic?”
Ryan is among the millions of Americans encountering surprisingly large tax bills in the midst of a global health crisis. She was finally able to go back to work at a day-care center, but she says she doesn’t have $3,100. She used what savings she had to move from Pennsylvania to New Jersey when a job opened up in her field.
read more:
https://www.washingtonpost.com/business/2021/03/05/taxes-health-insurance-subsidy-overpayment/
Replies
Ryan...welcome to socialism/communism...the peasants like you pay and they do not give one iota about you...just wait til 2021..hojoe is not done with you yet....
Ask me if I care, after all she is special you know (teacher) let her stinking corrupt union pay for it
POOR BABY........HEY, TRY WORKING OVERTIME TILL YOU PAY IT OFF LIKE EVERYONE ELSE DOES.
NOW YOU KNOW WHY TRUMP WAS TRYING TO DUMP OBAMA CARE!
IT ALL SUCKS JUST LIKE OBAMA HIMSELF!
This is where the government needs to step in and help instead of sending a measly 600 dollar check. Of course it won't happen - there aren't too many (if any) sensible and practical people in our government!
They should not have sent any money to anyone. That is not what the federal government is for. That is not what our tax dollars are for. Everything the Fed touches turns to sh1t.
Yep!
-
1
-
2
of 2 Next