Posted on 10/06/2013 5:45:54 PM PDT by Duke C.
Obamacare- What happens if I don't pay the penalty?
No...drinking water as that will all you can afford.
If you work your taxes to where you get no refund, the fines just keep adding up, year after year, plus interest (3%). After a few years, you’re talking real money. Plus, you know they’ll tweak the law. Eventually they WILL get your money.
I can not get anyone to answer a simple question:
“Are the Obamacare “penalties” on a year by year basis? If you do not pay for 5 years, will they be able to garnish 5 year’s worth of penalty when you do get a refund? Does every year stand on its own?” Yes, actually, this is all part of the same question.
People below a certain income may not pay or file a 1040 or equivalent. How does the IRS get them?
I figured it would “di di mau, di di mau” with one round in the chamber.
Caution: A knowledgeable FReeper pointed out the other day that although the penalty in itself will not lead to liens or seizures, if you owe the IRS other monies and the IRS takes action against those funds that the total sum including the penalty likely will be involved in the action.
They won’t owe the penalty in the first place.
I know people who have qualified for public assistance JUST to get out of the Part D penalty.
If the IRS bankrupts someone over the penalty, and that person gets any form of public assistance thereafter, from the State, the penalty will go away.
Of course, at that point? They have forced you to “surrender” in many ways.
Don’t forget the other loophole, Christian healthcare co-ops. I haven’t figured out which one I’m joining yet, but that option avoids both the exchanges and the IRS penalty-tax. Not saying its a perfect solution for everyone, but it is a legal alternative that might appeal to Christians with incomes too high for subsidies and too low for the new, outrageously high premiums. Like me.
I think they just want to destroy the insurance companies so we are all stuck with healthinsurance.gov.
Yup. Make sure you don’t get a tax refund and they have nothing to take the fee from.
But can they ADD the fee on to any taxes owed if you under withold ??
The court ruled it would be constitutional if it was a tax, but not if it's a fee. If it's a tax, then I don't think they can arbitrarily decide who does or doesn't have to pay it, or delay implementing it.
They're wanting to claim it's a tax to get it to pass constitutional muster, and then administer it like it's a fee once it's in effect.
This is going to get messy.
That ... is a true twilight zone nightmare.
I am exempt from zero-care since I am a member of a healthcare sharing ministry. It’s not insurance so it may not be for everyone but so far it’s been ok for us.
Due to the Paperwork Reduction Act of 1980 each agency and each dept. therein is required to choose just one word to reference it.
My thoughts are that the Dems want to run Hillary in 2016 and she will say “Vote for me and I will make sure you have single payer and not so high premiums.” By then, the people will be ready to vote in anyone who an straighten out the mess and they will remember the good times when Bill was in charge. This issue will be number 1 by then and many of the poor will have defaulted on their payments. I fully believe that there are enough low info voters to vote her into office.
Cool. Which one did you join (if I may ask), and why did you choose it? I ask because I am still trying to decide.
yup.. the moment they start garnishing wages... is the moment the shivs come out
that’s when the real fun will begin
time to buy some popcorn stock
I had read here a couple weeks back, that the IRS will have the power to seize assets from your bank account, or garnish wages as they see fit.
Someone will know the article, I’ve had a few too many Single Malt Scotches to bother looking this stuff up.
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