Posted on 07/25/2014 9:27:31 PM PDT by Libloather
**SNIP**
The figures, released late Thursday, cap the fine for not buying insurance at $2,448 per person and $12,240 for a family of five. The standard rule of thumb is 2% of household income, with a minimum of $325 per person.
The caps are equal to the national average premium for a bronze-level health plan.
Those who choose to go uninsured will owe one-twelfth of the annual payment for each month they or their dependents don’t have either coverage or an exemption, the IRS said.
All fines will be due during tax return season, which can be deducted from tax refunds.
(Excerpt) Read more at ibamag.com ...
F-them. I’ll just raise my deductions to cover thier scam!
Hey, that’s great.
I’m not paying sh*t.
Come drive a tank over me.
Becoming an Indian might be easier ...:^)
Exempt groups from the IRS web site -
Religious conscience. You are a member of a religious sect that is recognized as conscientiously opposed to accepting any insurance benefits. The Social Security Administration administers the process for recognizing these sects according to the criteria in the law.
2.Health care sharing ministry. You are a member of a health care sharing ministry.
3.Indian tribes. You are (1) a member of a federally recognized Indian tribe or (2) an individual eligible for services through an Indian care provider.
...
bfl
I am a Creek Indianan.(I live up a creek and can’t afford a paddle...)
I HAD insurance adequate to my needs BEFORE this abomination of a law.Now I can’t afford the more expensive “capless” insurance.
How soon do we have a "Foxwood's Medical" Hospital and Insurance Company, right next to their Casino's. Seriously, huge loophole, the could offer their "Nation's" low cost policies that are not compliant with the ACA and probably get away with it. How many Conservative Doctors would be working their and how many of us would have policies with them is the question...
I suspect it’s coming down to this:
side from skilled people that consult for large companies, most people really fall into one of two groups:
1) They work for a medium to large employer who has health care
2) They work for themselves or a very small employer who does not have health care.
The first group is not affected, as the employer is either required or will provide insurance anyway, but the second group gets interesting for many of them have the option to move cash around - and if you do it right, Obamacare can cost NEXT TO NOTHING, and the penalties for not having it are also trivial. Just hit the mark on reported income.
So more money off the books - I wonder if the CBO took that into account when scoring the scheme?
(the high-skilled people working solo will likely have 1099s to deal with, so they are stuck - they have to report and they have to buy that crap or pay a big fine)
“I remember hearing someplace reputable that if you pay taxes—as opposed to receiving a refund—whether you pay the fine is up to you. As hard as it is to believe, the IRS has no recourse.”
That’s pretty much correct. There were a few Democrats that would only support the law if the IRS had limited enforcement power for those penalties - they didn’t want the IRS taking peoples’ houses away and cleaning out bank accounts because they didn’t buy Obamacare - not good optics.
And so they wrote the law to limit IRS to only less painful methods, which might be only grabbing refunds. You can still have the judgment against you for non-payment of taxes (which can cause its own problems), but the IRS cannot collect the Obamacare penalty until you have a refund due. And while most people can prevent refunds if they have a stable job, sometimes life gets in the way, like a capital gain, and you will get a refund - and bamm, they get it instead.
But none of that really matters...they NEVER could have INTENDED the law to mean that, so they’ll just IGNORE those words (as they are now doing/saying about subsidies for the federal exchanges) and find some corrupt (i.e., Democrat) judges to go along. So don’t count on the wording of the law meaning anything.
I cover my family with a short term health insurance policy AND I joined a health sharing ministry, both at the lowest contribution levels, and paying less than I would for Obamacare exchange insurance.
This is going to hurt all the EITC’ers out there if they don’t get the ObamaCare subsidy if they are in a state that has not set up an exchange. IRS will be forced to take the money from them that they took from someone else to give to them in the first place. Vicious circle....
Still, you had better be planning your taxes where you owe just a little instead of getting any kind of refund. They might just up and determine that your insurance does not fit the minimum level of coverage they think you should have.
That's the intent. Real power is not in passing laws. Real power is the power to dictate based on political whim.
This is my retirement plan, the gulag!
Three hots and a cot and all the sex your could possibly bear.
“Oh I get it. The fines will fund Obamacare.”
That’s right; they will take money from hard-working people and fund the health insurance for gibsmedats with it.
“Yeah, people are going to have a lot of extra cash to help keep the booming economy going./s I don’t understand why most people aren’t absolutely infuriated by all that’s going on.”
Because many haven’t started paying directly yet, and the Dem media is concealing it from them.
Obama’s re-election was a very scary omen...
Here is what I expect to happen. Let's say that you owe $2000 in Taxes and $1000 in Obamacare “penalties”. You pay the IRS $2000. The IRS will credit the first $1000 to the OB Care penalty and the $1000 left over to the regular taxes. You now owe the IRS $1000. The balance due is not for the penalty but the regular taxes and is subject to penalties and interest and enforcement action. You are not allowed to tell the IRS where monies paid in are allowed to go.
CC
It is all so simple.
Just wait till the DEMs give the IRS authority to enforce this with POWER!
After a few doors are kicked in at 3:00 AM, families shot, property and bank accounts confiscated for non payment...
And you sir are a canard destroyer, not to mention one who ruins rants.
I hope the Media get what they deserve for the destruction they’re causing this country.
Obama is getting more obstinate and we “ain’t seen nothin’ yet”.
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