Posted on 11/30/2015 10:07:25 AM PST by Kaslin
They will confiscate the refund so the best thing is to owe taxes.
But many people, like my sister, like to use Uncle Sam for a savings account so they will pay the price. But she won’t change her deductions because “I need that money”.
Note: If this turns out to be just a tax on people who get refunds, it may not hold up in court.
Also, suppose a person just ignores it? Does it roll over into next year... along with the usual interest and penalties that the IRS is famous for?
It could easily end up being thousands maybe 10s of thousands of dollars. Wow. I wonder if people realize what they are in for. They'll probably never see a refund again in their lifetimes.
Also, if the unpaid taxes are significant enough, I wonder if the IRS will eventually go after the individuals with the usual garnishing of wages, seizing assets, etc.
It might be an outstanding debt against an estate, too.
THANK YOU DEMOCRATS!
She doesn’t vote(too difficult) but she is largely conservative. She getting married as soon as her boyfriend’s divorce goes through and I think she will go on his insurance. His wife is on disability and eligible for Medicaid.
You can ignore the tax for now. Nothing will happen to you except any tax refunds you ever get will be confiscated. The government doesn’t want another reason to piss off voters.
But won’t the past due taxes accumulate every year? Plus interest and penalties?
So a person might accumulate $1000 every year in taxes (minus any refund that they might have gotten). Of course, people will get smart and not owe any taxes. So the amount will be closer to $1000 and maybe even higher.
After 10 years, it will be $10,000 plus interest and penalties. After 20 years.... and so on.
Remember too that it is a “tax.”
I am betting too that eventually, the feds will get around the refund only requirement.
Sorry. I meant increase the number that they declare and not get a refund. At the same time they can’t over declare because the government will start penalizing people who do this.
No because they would be going after their voter base while the “very wealthy” would be exempt from paying it because we have insurance.
Good point.
But I predict that the feds and Democrats will tax that too — the insurance that we get from our employers. They just need to wait a few years and when the time is ripe.
After all it is tax free which is “unfair to the poor and people that have to buy their insurance” will be the mantra.
“We will never get a handle on runaway health spending until we get a handle on what to do about the 20 percent of the population that consumes 80 percent of health care dollars.”
“Death Panels” of one sort or the other that deny significant amounts of health care to this group is the preferred solution by Democrats.
The whole point of Obolacare was to guarantee insurance coverage to the highest risk, most expensive demographic on the planet - homosexual males. So yeah, costs have necessarily skyrocketed as planned. Plan B is National Health.
That's an interesting point, A.P.
However, I believe many of the O-Care subsidies are paid via tax credits, so perhaps the government has some legal space to claim a preexisting connection to the IRS?
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