As I understand it, the only way the IRS can collect the fine is to withhold it from your tax refund. Adjust your W4 accordingly and you’ll never pay the fine.
Yes, that is correct.
Seems to me an easy buck (or two) for both ‘ObamaCare for Dummies’ and ‘Avoid ObamaCare for Dummies’ instruction manuals.
One of the most useful pieces of advice my father gave me was to adjust your W4 so you break even, or owe them a little money. Why would you want to give the government an interest free loan for a whole year?
I was only able to pull it off for a little while. Early on I made too little, and kept getting money back. Then a few years back Mrs. MAExile started an on-line business, and my days of breaking even were over for good.