PHOENIX — Thousands of Arizonans could take a hit on their annual income taxes for failing to have health insurance in 2014.
This year is the first taxpayers are dealing with penalties stemming from the Affordable Care Act. Uninsured Arizonans will have to pay some form of fine.
The penalty is $95, or 1 percent of income above a certain threshold — about $20,000 for a couple.
Bill Brunson with the IRS said some people will be able to claim an exemption, while others will be paying an “individual shared responsibility payment.”
“People who went to the Marketplace and purchased insurance should have received, by now, a form — 1095 A,” he said. “That form has information that they need to use when they file their tax return.”
About 75 percent of taxpayers have health insurance through their jobs or government programs. They will simply have to check a box on form 1040.
Almost three million arizonan’s will file taxes this year.