And as usual...who picks up the tab....working folks only.
If you make $100,000, at 2.5%, the penalty is $2500...and you still don't have insurance....and you're not eligible for a subsidy.
Workers get screwed again.
I am an Enrolled Agent
Adjusted Gross Income (AGI) = $100,000
Filing Status MFJ (married filing joint)
Health Care Responsibility Penalty is $1,985 for 2016
$100,000 - $12,600 (MFJ standard deduction) -
$8,000 (taxpayer + spouse exemption) = $79,400
$79,400 x 0.025 = $1,985