Tax time traps some who failed to sign up for health insurance
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EL PASO — Yvonne Mendoza a master tax advisor usually helps clients wind their way through the tax return maze, but this year she came up with a nasty fine in her own return – a penalty charge because she did not sign up for personal health insurance. “With my refund being affected, it didn’t allow me to pay the things I needed to pay in January,” said Mendoza, a17-year veteran tax expert at H & R Block. The penalty cost her more than $400, one percent of her household income. This year’s tax return bill can cost more than expected because the Affordable Care Act (ACA), or Obamacare imposes a penalty on Americans who failed to get health insurance. Mendoza said that she made the mistake of not going to the marketplace.