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IRS Waives Penalties for Late Payments Linked to Obamacare
Bloomberg Link to more items from this source
[Guidance Overview]
Jan. 26, 2015
"On tax returns, [individuals] must reconcile eligibility for the credit with their actual income and pay back some of the subsidy if they received too much. That can happen if someone got a higher-paying job or a raise during 2014 and didn't ask the government to alter the subsidy. The IRS will waive penalties for making that payment late or for failing to pay estimated taxes throughout 2014. Taxpayers must send in a letter for a penalty waiver. They still must pay the taxes within a year and will owe interest after April 15, the due date for individual tax returns."

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