Am I exempt from Obamacare penalties in El Paso?
Many people are asking themselves this question, Am I exempt from Obamacare ? Well If you can’t find Healthcare coverage that costs less than 8 percent of your annual income or you are uninsured then you are not required to file a Federal Tax Return. That means you are exempt, No income Tax Return = Exempt. Others exempt include Indian tribes, undocumented immigrants and Americans living abroad.
The penalty for going without Health Insurance in El Paso involves a flat fee or a percentage of taxable income, depending on which is greater. In 2014 the tax begins at $95 per adult and $47.50 per child (up to $285 for a family) or 1 percent of Annual Income, whichever is greater.