Posted on 10/20/2017 6:34:58 AM PDT by Red Badger
The IRS says it will not accept electronic tax returns that do not disclose whether the filer had health insurance coverage during the year.
It also says it will suspend paper returns that do not have the disclosure.
The IRS' move, which will bolster compliance with Affordable Care Act rules, comes as the Trump administration takes other steps to undercut the law.
The IRS is warning tax professionals that it will block or suspend processing of 2017 income tax returns that do not comply with Obamacare rules requiring filers to disclose their health insurance status.
The new move to tighten Americans' compliance with the Affordable Care Act comes even as the Trump administration takes steps to undercut it.
"Taxpayers remain obligated to follow the law and pay what they may owe at the point of filing," the IRS said in a description of the new policy.
The ACA requires most people to have some form of health insurance coverage or pay a tax penalty — a requirement known as Obamacare's individual mandate.
That penalty is the higher of 2.5 percent of adjusted gross household income or $695 per adult and $347.50 per child under age 18.
The agency, in an online notification to tax professionals, said that in the upcoming tax filing season "the IRS will not accept electronically filed tax returns where the taxpayer does not address the health coverage requirements of the Affordable Care Act."
"Returns filed on paper that do not address the health coverage requirements may be suspended pending the receipt of additional information and any refunds may be delayed," the IRS said.
Income tax returns contain a box that asks filers if they had health coverage during the year.
If they indicate they did not have coverage, filers must indicate on what grounds they are exempt from the mandate or say they will pay and then calculate the penalty for not complying.
The IRS said it will not accept electronically filed returns until a tax return addresses those points.
There are several possible exemptions from the mandate, including lacking access to affordable health coverage, being homeless, getting evicted, experiencing domestic violence, experiencing the death of a family member and filing for bankruptcy.
Exactly.
“The IRS reports eventually to POTUS. Time for Trump to take this in hand.”
That applies to more agencies than the IRS. Why he allows the Obama snakes in the grass continue to run IRS, FBI, etc., is a mystery to me. Enough already. Drain the frickin’ swamp, as promised.
A big [no] thanks to all the GOP senators who refused to repeal Obamacare. So nice that none of them will have to disclose anything; they’re all exempt.
Under the FAIR TAX, the present IRS would be disbanded and a new, much smaller FAIR TAX collection office would be established directly under the Secretary of Treasury. Since this new agency will NOT have to deal with 100 million individual taxpayers and 20 million businesses but only with the 45 to 50 state collection agencies, the entire federal end could be run by a few hundred folks. It might take perhaps 200 field agents (4 per state) to work with the state revenue offices to be certain they aren’t cooking the books or playing games with the fed’s piece of the action + additional for those non‑sales tax states foolhardy enough to allow the feds to have their way with their businessmen. Perhaps another 100 more in the main office to run the computers and post deposits, make coffee, run out for the donuts, etc.
Folks, we’re talking a much smaller federal collection effort than is now required by the present unfair & insane income tax!
*NO MORE PRESUMPTION OF GUILT IN THOSE IRS CONFRONTATIONS;
*NO MORE WASTED 10.2 BILLION COMPLIANCE RELATED MAN HOURS;
*NO MORE WASTED APPROX. $ SIX HUNDRED BILLION COMPLIANCE RELATED COSTS;
*NO MORE $200 BILLION++ ANNUAL UNDERGROUND ECONOMY. THE COCAINE DEALER, AND OTHERS WHO NOW LARGELY ESCAPE THE CURRENT TAX SYSTEM WILL PAY TAXES EACH AND EVERY TIME THEY TAKE THEIR LARGELY CASH REVENUES DOWN TO BUY THAT NEW ROLEX, ROLLS OR YACHT. Because of that $200 billion plus lost revenue, those of us stupid enough to file and pay must make up the shortfall!
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Thanks for this info !
I’m one of those who will be hit with the penalty. I feel like it is time to assemble on Lexington Green.
Corporate taxes are passed to the end consumer. They boil down to VAT taxes in their final result.
Doubling standard deduction, child credits, the whole mess is testimony that individuals are poorly treated by our tax code that doesn’t permit them to withhold all living expenses from their incomes, but permits businesses to set aside any imaginable expense from their incomes.
The answer: tax the end consumer with a sales tax. Buy little, pay little. Buy a lot, pay a lot.
Trump can forego collection of the mandates due to turmoil in the ocare market
Lets not kid ourselves if tax cuts and repeal doesn't happen small business that have expanded by making expenditures and making new hires on the assumption relief is on the way ... what do you think is going to happen when they have the proverbial rugs pulled out from underneath them?
Do you disagree that now this president Trump's FBI, IRS, DOJ?
Do you honestly believe Jeff Sessions is doing a good job?
Are you not following the news about Mueller? If Bannons strategy causes the loss of the house the democrats will impeach the president. The senate might not convict but you want to chance it with this current crop of weasels.
I think president Trump is about as smart and creative as the come and probably has a cagy plan but I'm hearing the clock ticking and I've seen bubbles burst before.
The IRS is not paying him any attention at all. They continue on unabated.
It’s a ‘silent coup’...........................
But the individual filer wouldn’t be legally liable
Your entire return should consist of a copy of Trump’s order and NOTHING ELSE.
I am a life long accounting/bookkeeping person. I am almost 78. I will say this again:
Please pay attention:
You are only required by Federal law to advance to the IRS in the form of quarterly payments or payroll deductions 90% of what you will owe in Federal taxes in any given year.
IF you owed $6000 on your 2016 tax return, you are only required to have made advance payments of $5400 to the IRS.
Using the IRS ‘to save funds for a vacation’ or some other reason is only giving the IRS YOUR $$$ without any interest & now, they are playing games again about keeping that refund from you. IF a true reduction of personal income taxes can be achieved for the filing of 2017 income taxes, you might have a really larger refund coming-—and now the IRS is enforcing something Trump told them to ignore. It is amazing to see so many of his ‘employees’ refusing his orders. Someone needs to get fired-—NOW.
However—I contend that you should watch carefully all year long your earnings & control how much $$$ you give the IRS in advance. IF you owe them, then you are not waiting for a refund. If you do this correctly, you will not owe more than 10% of your entire annual obligation.
If you need to save money for a vacation-—take out the difference in cash each paycheck & put it in an envelope hidden at home. Try a little planning.
President Trump needs to furlough the whole lot of them and bring the military in to complete the form processing.
“If you don’t think we’re in an actual war with unAmerican oppressors within our government, well...”
Then you don’t know what is going on.
And to think that some were pushing me to apply for an IRS job as a new accounting graduate. Glad I dodged that bullet.
Isn’t that bastard Koskinen still befouling the IRS?
(and that’s hard to do.)
>><<
Yes, he is and it’s disgusting.
And Lehrner (sp) should have gone to prison and never drawn a pension.
If Trump would apply the Senior Executive Service Law, he’d be gone.
Big fkn deal! I know 10 people personally that could take out a ton of IRS using full auto with semi auto! They wouldn’t know what hit them!
CNBC = Counterfeit News & Bull Crap
Don’t believe these Lying Leftist Media outlets that proved themselves during the 2016 campaign to be operatives of the DNC and intentional liars. They are presumed to be lying and we should presume what they publish is a lie. The presumption can only be rebutted with the outlet providing clear and convincing evidence they are not lying.
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