Expect tax changes in 2015
[gtxvideo vid=”2qoyuR9P” playlist=”” pid=”OTSe9U1y” thumb=”http://player.gtxcel.com/thumbs/2qoyuR9P.jpg” vtitle=”Taxes -Bryan PKG”]
JACKSON– A new year means tax season is right around the corner and experts are saying you will see changes when filing for your 2014 returns. “Don’t wait till the last minute, and go to the post office. I’ve been to the post office at the last minute and it’s crazy,” Deborah Tyler of Jackson Hewitt said. Jackson Hewitt says they have already seen people coming in to prepare their 2014 returns. “This year we plan on seeing a lot of questions and things involving the Affordable Care Act. A lot of people don’t understand what the new act entails,” Tyler said. The Affordable Care Act requires all Americans to have health insurance, or face a penalty. Tyler says the penalty is $95 dollars but she says in her experiences the penalty is almost always more than that. “If you paid attention to the news, you can hear real closeley that the penalty could also be 1 percent of your gross income. If you make $40,000 then you will owe over $400,” Tyler said. In 2015, the IRS says the new penalty will be $325 or 2 percent of your gross income.
