There is no tax penalty, there is merely tax. When the tax is not paid or deducted from over payments, the penalty for non payment will accrue
All this will do is make d*mn sure young Jack and Jill will always have to write a check on April 15 for the rest of their lives.
Or, at least until another Dem in office finds a "fairer" way for them to be forced to contribute to the "common good".