Tax Policy Center launches ACA tax penalty calculator

People who think they will be subject to only a $95 tax penalty if they do not get health insurance may be surprised to learn that the penalty could be much higher. An online tax penalty calculator launched by the Tax Policy Center shows, for example, that a family consisting of a married couple plus two children whose annual adjusted gross income is $50,000 would pay about $300 a year. If they made $100,000 a year, the fine would be $800. The Wall Street Journal (tiered subscription model)/Washington Wire blog (3/6)

Last Updated 08/10/2022

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