According to a new study, “half of all households that received ObamaCare tax credits last year will likely owe money to the federal government.” The Hill,
Nearly all families that received tax credits will either owe money or receive extra money because their tax filings had changed after they calculated their ObamaCare subsidies, according to a new report by the Kaiser Family Foundation.
Only 4 percent of households received the correct subsidy, according to the report, which uses data from the national Survey of Income and Program Participation.
Of those who will have to repay, the average amount owed is $794, the study found. Out of the 45 percent of people receiving money back, the average refund is $773.
Some households will be paying back the majority of their tax credit. Middle-income households — with income from 300 to 400 percent of the poverty level — will repay about 65 percent of their tax credit.