According to Bloomberg, 2015 is the worst tax season in a long time. With the new Obamacare requirements, identity theft, IRS funding issues and taxpayers taking their time, there should be a rush at the end when April 15^th comes.

Obamacare didn’t have income verification in place when it rolled out on HealthCare.com, so new enrollees estimated their income and got subsidies. The IRS is now reporting that 50% of enrollees underestimated their incomes, got a bigger subsidy than allowed, and now are having their tax refunds cut by $530. And for the 11% of Americans without health coverage they might be facing a penalty somewhere around $170.

Small business owners are required to complete additional forms next tax season to comply with the ‘Affordable’ Care Act. Businesses with over 50 full-time employees need to track and record employees health expenditures for the year on a monthly basis. On February 8th the IRS released the new form, 1095C, for companies to file in 2016.