Will Obamacare ruin your tax refund?

USA Today reports:

According to H&R Block, as many as 3.4 million people who received subsidies for health insurance will have reduced tax refunds this year due to underestimating their income. Vanderbilt University assistant professor John Graves told the Wall Street Journal that the average subsidy amount is expected to be about $208 too high for 2014. While some tax filers may have to return hundreds or thousands of dollars back to the IRS, there is a $2,500 cap on paybacks.

On the positive, most people have insurance coverage without any subsidies from the IRS and only have to check a box on their 1040 tax form. Others may have to worry about filling out two new requirements. Form 8965 will decide if you owe a penalty for not having insurance, and Form 8962 will determine your appropriate subsidy. Each form could cost tax filers anywhere from $5 to $30 each if they have H&R Block fill them out. If you owe a penalty, the IRS will hold back the amount of the fee from any future tax refunds. For tax year 2015, the fee will increase to $325 per person or 2% of household income, whichever is greater.

ObamaCare means the IRS wants to know about you and your health insurance: a need chapter of you and Big Brother.