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Odessa American Newspaper Archives Apr 6 2015, Page 3

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Odessa American (Newspaper) - April 6, 2015, Odessa, Texas Monday april 6,2015 Washington Odessa american 3a a / seeking 30 candidates with hearing loss Many taxpayers take a hit new healthcare Law is affecting tax returns the associated press Washington As the april 15 tax deadline nears people who got help paying for health insurance under president Barack Obama a Law Are seeing the direct effect on their refunds a hundreds of dollars for better or worse. The Law offers tax credits so people without Access to Job based health insurance can buy private coverage. Because these subsidies Are tied to income Consumers must accurately estimate what they will make for the coming year. That a been a Challenge for millions of people. Guess on the Low Side get More help now with premiums but owe Money later at filing time. Overestimate income expect Bucks Back from the Taxman. Many Consumers May not have understood that is How it works when they signed up. Some experts caution that such complications could discourage uninsured people from getting covered. Rob tuck of Dublin calif., said he had anticipated a refund of about $400 on his 2014 taxes. But that almost has been wiped out because he had to repay some of the subsidy. He changed jobs during the year and his income went up a Little. Tuck who works for a san Francisco area tech support company said he enrolled to avoid tax penalties for being uninsured but feels penalized anyway now. Kelsey Park started out 2014 in Dallas earning Good commissions by Selling wedding gowns. She left for graduate school at the University of Alabama in Tuscaloosa and signed up for coverage through the Law. She ended up overestimating her income because she did no to get another Job As anticipated. Steve Nesius Jap William Praus stands in the backyard of his Home in St. Petersburg Fla. Preus was covered by the health overhaul for part of last year before transitioning to medicare creating a major tax headache for him. Parks tax refund came to $2,500, partly because she had too much income tax withheld and partly because she received a smaller health care subsidy than she was entitled to. A it was hard to estimate what i would be earning because i was transitioning in life a said Park who a studying for a masters degree in marketing. A i tend to overestimate because i done to want to have to pay Back a she said. The average refund is Large enough to offset any repayment in most cases according to the Treasury department. The White House said the affordable care act is working even better than anticipated. But this is the first year that the complicated connections Between the Law and the tax system Are playing out for Consumers. Initial reports suggest a fairly even split Between tax rectum winners and losers. Earlier in the filing season tax preparation company a amp a Block reported that 52 percent of its customers who got health insurance subsidies owed Money Back. Repayments averaged $530, reducing expected refunds by 17 percent. On the other hand roughly one third of customers with subsidies overestimated their incomes. As a result their re a More on refunds refunds funds went up by $365 on average. In a recent study the nonpartisan Kaiser family foundation estimated that half of those eligible for a subsidy would owe Money while 45 percent would receive a bigger refund. The estimated average repayment was $794, and the refund was $773. The estimates were based on an analysis of census data about income changes among people Likely eligible for health care subsidies. Kaiser calculated that Overall Between 4.5 million and 7.5 million households have to account to the irs for their subsidies. This year is a a learning experience for Consumers and the government alike said Kaiser a Cynthia Cox. A to the extent this makes people unsure of How much financial help they Are going to get it could be a discouragement for some to sign to avoid tax surprises Consumers should Contact the health insurance Exchange if their income changes during the year. Odessa american our new Mobile Appis Here get your news Togo scan to download a App so car Miracle ear America s most trusted Brand in hearing aids has introduced its new Genius technology that provides you up to 25% better speech recognition in challenging listening environments than people with Normal hearing.1 in conjunction with this new product release Miracle ear is offering special Access for up to 30 candidates per office who May qualify to Wear this amazing new technology. During this event our offices will be conducting free hearing evaluations and video Otoscope inspections to determine whether you qualify to try this new technology. Qualified candidates will be among the first in the world to try these digital fully programmable hearing aids. Not All respondents will qualify and we Only have the capacity to see 30 people during this special event. Introductory pricing will be made available to those who qualify to participate. At the end of this evaluation you May keep your instrument if you so desire at a tremendous savings for participating in this Field test. The Miracle ear advantage v Miracle ear is America s 1 St Choice in hearing aids v 3-year warranty a free lifetime aftercare v Over 1200 locations nationwide to service your hearing needs v Over 65 years in business it i Ltd i to $795 la free a duotone pro Herino Aid b by sub bbb hearing screening audio tone pro hearing Aid sep Jodi in Steve seeing for Quot limit one Aid per patient at the promotional Price Only blot valid with any other cd count or offer Dom not apply to prior purchases. Varad on Model audio tone pro Only. Offer expires �>-10-201 s. Sisi ii hurry these limited time offers end 04/10/2015call today Quot of Miracle ear Miracle ear Center Midland 3001 w Loop 250 North c-121 Midland to 79705432-272-8895 Center Odessa 2508 n. 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