Tax Information Starting To Come Through, Which Means April 15 Isn't Far Away
By Lynne Adkins
PHILADELPHIA (CBS) -- As April 15 approaches, it's helpful to know what you could face when you file this time around.
Taxpayers will have to sign off that they have paid for healthcare and Horsham CPA Carlo Ferri says if you bought medical coverage under Obamacare and received a credit, you'll have some math to do.
"Some individuals could be in a position where if their income is higher than what they estimated, then they might have to pay some of that credit back, other cases, if their income is less than what they had estimated, then they'll receive and additional credit on their tax return so there's a form that you fill out and that's part of the tax return for this year form 8965."
He says the college tuition credit and a credit for green home improvements have been extended, but if you need help from the IRS, be prepared to wait, budget troubles have caused cut backs.
