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Willtell
www.taxhelpok.com...
I have fielded alot of questions on the Affordable Care Act (the "ACA") lately, and I have held off on my answers to see what the full ramifications of IRS enforcement will be. The answers are not coming quickly from the IRS or Congress, but here is what we know. The ACA requires all U.S. citizens to purchase insurance beginning in 2014. The United States Supreme Court has ruled that the ACA is constitutional as a tax, not as a matter of insterstate commerce. So, the lion's share of policing compliance with the ACA will be up to the IRS. However, the ACA prohibits many of the traditional methods the IRS uses in tax enforcement. The IRS cannot initiate civil or criminal penalties, file liens or levy (garnish) a taxpayer's bank accounts or wages or otherwise seize property to satisfy any unpaid ACA tax. Also, no interest can accrue on these tax penalties. The only practical way for the IRS to collect on penalties is to capture or withhold tax refunds from year to year until satisfied. So, in summary, you can't go to jail for failure to comply, but you could lose your refund. The IRS will also oversee many tax breaks and incentives to allow taxpayers to afford health insurance and penalize those not in compliance. Future employment of thousands more IRS agents and more changes to the already complex tax code are anticipatedreply to post by xuenchen
Because there are no criminal charges associated with not purchasing health insurance, and offenders only face a $95 fee, Larry Kocot, visiting fellow at the Brookings Institution, says some individuals many not feel obligated to get coverage. “It’s a decision individuals will have to make—there will be bigger consequences for dishonesty,” Kockot says. “The payment is not subject to criminal penalties, liens or levies. Essentially, the government can issue you a notice of payment or can collect this from your tax return.”
www.foxbusiness.com...
If the congress pot energy in getting rid of this 95 dollar fine, instead of shutting down the gov, it would go awayedit on 6-10-2013 by Willtell because: (no reason given)
The fee in 2014 is 1% of your yearly income or $95 per person for the year, whichever is higher. The fee increases every year. In 2016 it is 2.5% of income or $695 per person, whichever is higher.
ThichHeaded
reply to post by kaylaluv
The only problem is nobody can get on to register because they system is so screwed up..
The OP still has not shown proof any of these people were helped through Obamacare...edit on 10/6/2013 by ThichHeaded because: (no reason given)
MsAphrodite
reply to post by kaylaluv
Exactly, what's your point? It's still a tax. A tax that the person gets nothing in return for paying, except a mandate to buy insurance or pay a tax.
Crakeur
reply to post by kaylaluv
it's not a hoax. It's a marketing plan. It's staged photos of people who they are claiming have benefitted from the 2010 plan but, notice how they throw those obama keywords at you in large letters, like CHANGE?
Those signs were written by marketing people.
Willtell
reply to post by beezzer
You also pay for the drones that kill children. Does that bother you?
We know you don't give a dam about starving children in America or that many of them die because they have no health insurance, but I wonder how you feel that your precious tax money is going to MURDER!
DO YOU RANT AND RAVE ABOUT THAT?
DO YOU LOOSE ANY SLEEP OVER THAT?edit on 6-10-2013 by Willtell because: (no reason given)
kaylaluv
MsAphrodite
reply to post by kaylaluv
Exactly, what's your point? It's still a tax. A tax that the person gets nothing in return for paying, except a mandate to buy insurance or pay a tax.
My point is, you are not supposed to get anything in return for paying a penalty tax. It's not the same thing as sales tax or income tax. Hence, the term "penalty" tax. It's like the penalty tax you pay for withdrawing your 401(k) funds before reaching retirement. Not everyone pays it -- only those who break the rules of the 401(k).
Crakeur
reply to post by kaylaluv
it's not a hoax. It's a marketing plan. It's staged photos of people who they are claiming have benefitted from the 2010 plan but, notice how they throw those obama keywords at you in large letters, like CHANGE?
Those signs were written by marketing people.