Help available for taxpayers worried about effect of Obamacare on 2014 filings

Help is available for people worried about the effect Obamacare will have on their taxes. H&R Block is offering free advice about the impact the law could have on your refund.

It doesn't seem fair -- holiday season quickly turns into tax season. This year's filing could be painful.

If you have no health insurance, you're most likely going to pay a penalty to the federal government.

Tax service provider H&R Block is holding a free Affordable Care Act Q&A day on Thursday.

"We've had to take 15 to 25 hours, each of us, preparing us for this eventuality. We're well prepared to talk to folks about the ramifications of not carrying insurance," H&R Block's John Blakely said.

H&R Block estimates a quarter of its clients will be impacted by the largest changes to the tax code in the past 20 years.

The Affordable Care Act wants to put pressure on you to sign up for health insurance, offering subsidies to get you covered and penalties if you don't.

But it's not just a flat rate. When filing your 2014 tax return, you'll pay a minimum of $95 per uncovered adult, or one percent of the family income, whichever is greater.

It goes up next year to $325 or two percent of the family income.

In 2016 and beyond, you're paying $695 per adult or two and a half percent of your family income.

"The lesson in all of this is that people need to get themselves insured," Blakely said.

Even if you are insured, you may still have to pay the federal government.

If you bought insurance and received a subsidy and then your income went up, you may have to pay some of your subsidy back.