So, that means, there is no line on the 1040 that adds in the penalty?
No there isn't.
Rush talked about this extensively several weeks ago on one of his shows and as it turns out he was absolutely correct.
The IRS CANNOT fine, levy, issue lein's, etc.. against ANYONE who does NOT have health care insurance and is NOT due a refund.
The only thing the IRS can do is seize a tax refund if you refuse to pay for insurance.
That's it.
So the entire "trick" to breaking the back of Obamacare comes down to this:
1. Don't take health care insurnace. Don't pay for it, don't sign up for it, nothing. The Government HAS to cover you under Obama care even if you don't pay for it.
2. Adjust your withholding and take the maximum number of deductions so that at the end of the year, you don't get a refund. Rather, you PAY. Ideally, you should set your withholding so that you OWE as little as possible, but do not get a refund.
3. Sit back and watch the fun! The fun will be seeing Obamacare crumble under its own weight very quickly.
Yes, it IS patriotic to do this. It is the highest form of civil disobedience I can think of.
BTW: For 28 years I've "owed" at the end of the year to the IRS. I *NEVER* want to give them an interest free loan. The fact is, the US Government COUNTS on each and every one of us OVER-PAYING during the year. STOP DOING THAT!
Not only should we be breaking the back of Obamacare, the reality is by adjusting your withholding to PAY at the end of the year, you're also STARVING THE BEAST! DO NOT let the filthy, corrupt bastards in DC have "free use" of your money. Period.
You are not listing.
The line IS there.
You just don’t really have to pay it!
Just pay the rest of the taxes due and ignore the “penalty”, there is nothing the IRS can do.