Taxpayers Unaware of Health Coverage Disclosure Rules

Because the Act, Americans will for the first have to declare that they have in the they file by April 15^th 2015, or pay a penalty if they don’t. But nearly half taxpayers don’t know about the requirement.

That’s the finding a Harris Poll 2,000 adults commissioned by Intuit TurboTax. About 48% respondents said they were unaware they will have to declare their status the they file for their 2014 income, according to BenefitsPro.com.

That’s just one several gaps in the knowledge those surveyed:

• 85% didn’t know the deadline has passed to sign up for and avoid a penalty for 2014.
• 56% those without didn’t know they may qualify for an exemption from the penalty.
• 45% were unaware that (in effect, discounts) are available for low- to moderate-income families.
• 38% those without didn’t realize they may have to pay a penalty for failing to purchase for 2014.

“These numbers indicate that even with open in swing many Americans still do not know the correlation between their and taxes,” said Sacha Adam, Act product leader for TurboTax.