Posted on 01/18/2015 7:12:51 PM PST by george76
Those Americans who didn’t get health insurance last year could be in for a rude awakening when the IRS asks them to fork over their Obamacare penalty — and it could be a lot more than the $95 many of them may be expecting.
The Affordable Care Act requires those who didn’t have insurance last year and didn’t qualify for one of the exemptions to pay a tax penalty, which was widely cited as $95 the first year. But the $95 is actually a minimum, and middle- and upper-income families will actually end up paying 1 percent of their household income as their penalty.
...
the average penalty for lacking health insurance in 2014 will be $301... to a $325 minimum or 2 percent of income in 2015, and to a $695 minimum or 2.5 percent of income in 2016.
(Excerpt) Read more at washingtontimes.com ...
I'd love to know where the law was clear on anything :)
No, that's wrong. The ONLY thing the IRS was precluded from doing with respect to the penalty was to use their power of Liens and Levy to collect it. If there isn't enough refund to snag it, the amount due stays on the books, accruing interest, until the IRS can collect it from you. I suspect it goes into the Treasury Offset process so any payment from any gubermint agency is subject to intercept to clear the balance due.
Mr Rearden, you really didn't think we'd let you get away with that, did you?
The slugs get a couple thousand dollars in refunds and think 95 dollars is going to be shocking......doubtful.
You idiots voted for it.
I wish it was 10 grand per person. We need serious turn around in this country and the only way to do it is to watch voters suffer. Otherwise nothing will change.
I’m scratching my head over what’s in store for me in this regard. I was covered under an employer-provided BCBS policy in January, 2014. Then, nothing until the end of October and another BCBS policy. I didn’t sign up for the exchange because I was expecting a fairly immediate job offer that never came, then I was scrambling to support myself while also looking for a position. My income between was minimal, unemployment insurance for the maximum 19 weeks in this state plus some contract and freelance work.
I’m tempted to think that I won’t be penalized because of the minimal income, but adding up the three months of salary plus UE plus what I was able to do independently in between likely pushes me over the limit.
Is there any clearcut resource that might clarify this? I don’t know of one, and do not relish the thought of speaking with anyone with the IRS about it, prior experience says that I’ll get conflicting answers that may not be correct.
I am happy to see fools who voted for the architects of 0bamakill suffer because of it. What is unfortunate is the collateral damage that it’s creating.
.... I don't get it .... this stuff has been known for years .... and NOW .... these crack reporters have uncovered some MAJOR news that has actually been in print since this damn thing was passed ..... what do they think all of the Healthcare discussion was about before the last Fed Election?
Big Gov ALWAYS gets their money!...
either by taxation (income tax) or inflation (hidden tax)
The fee for not having coverage in 2014
If you didn’t have coverage in 2014, you’ll pay the higher of these two amounts when you file your 2014 federal tax return:
From the healthcare.gov site, you’ll pay the higher of $95 or 1% of your income, unless there were no plans available that were under 9.5% of your income.
https://www.healthcare.gov/fees-exemptions/fee-for-not-being-covered/
•1% of your yearly household income. (Only the amount of income above the tax filing threshold, about $10,000 for an individual, is used to calculate the penalty.) The maximum penalty is the national average premium for a bronze plan.
•$95 per person for the year ($47.50 per child under 18). The maximum penalty per family using this method is $285.
Sorry for the messed up reply - I cut and pasted and added info, but did it in the middle of the pasted part.
It will be deducted from a refund or added to any amount owed.
If it isn’t paid - the penalties and interest will start.
You are allowed one 3 month gap and can claim an exemption from the penalty for that period of time.
The fine is computed per person/per month
You want to eliminate this tax? Well read this....
ObamaCare allows the establishment of Dhimmitude and Sharia Muslim diktat in the United States !
Muslims are specifically exempted from the government mandate to purchase insurance and also from the penalty tax for being uninsured! Islam considers insurance to be “gambling,” “risk-taking,” and “usury” and is thus banned. Muslims are specifically granted exemption based on this.
How convenient. So I, as a Christian, will have crippling IRS liens placed against all of my assets and will face hard prison time because I refuse to buy insurance or pay the penalty tax. Meanwhile, Louis Farrakhan will have no such penalty and will have 100% of his health insurance needs paid for by the de-facto government insurance.
Non-Muslims will be paying a tax to subsidize Muslims. This is Dhimmitude. Cheer Up Obama is in charge.
Shariah is here alive and well...
Muslims are specifically exempted from the government mandate to purchase insurance and also from the penalty tax for being uninsured!
Nice incentive for people to “Convert” ...
Conversion to become Muslim is a one liner sentence...then you are one... Piece of cake...
We are soooo finished here!
If the premiums are more than 8% of your income you are exempt. 8% is larger than a 0 income. Takes care of that.
Adjust your withholding folks.
AARP traitors are contracted by government... Much like now the YWCA does stuff for city hall, in complete violation of church and state separation.
What is it Judge Roberts found it to be simply a tax. What a royal POS.
Simply said, welfare to sponsor terrorism, just like foreign aid to the PLO.
Ain’t no kick in the teeth gonna wake these brain dead SOBs up.
I used to think that a shock and awe type of thing is all we needed to bring people around. Shiite, how many of these have we had including 9/11 and look at the shape the country is in.
We now vote a traitorous Muslim into the highest office in the land TWICE.
No, only one thing will fix this country and that is getting rid of the freeloaders, IMO.
I guess I’ll find out. I don’t have Obamacare. I have my hsa.
I’m filing my taxes now, so I’ll let everyone know what happens.
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