Posted on 02/28/2015 4:18:28 AM PST by Libloather
Roberta and Curtis Campbell typically look forward to tax time. Most years, they receive a refund – a little extra cash to pay off credit card bills. But this year the California couple got a shock: According to their tax preparer, they owe the IRS more than $6,000.
That’s the money the Campbells received from the federal government last year to make their Obamacare health coverage more affordable.
Roberta, unemployed when she signed up for the plan, got a job halfway through the year and Curtis found full-time work. The couple’s total yearly income became too high to qualify for federal subsidies. Now they have to pay all the money all back.
(Excerpt) Read more at hayspost.com ...
I agree. Preparing your own tax return is surprisingly simple with the various software programs out there.
18 yrs ago we lost our rear end playing commodities. H&R Block, who did our taxes for close to $200 per year, refused to touch that years return as they did not know how to do it (I’m serious, I called upper management to verify it). I bought a $20 program, got some tips from the IRS, and filed it on my own. I’ve saved thousands over the years.
“To all the middle class Californian: welcome to the party pal.”
I read that and was happy to not be one any more after escaping mexifornia!
But it’s not just Californian’s affected by Obamacare.
Obamacare, in an unintended way, has paved the way to teach people to pay attention to things like their annual income and taxes/premiums paid. I’ve been disgusted for decades now at the people I’ve met that not only have no clue about how much they pay in taxes, but don’t care. It’s taken out of their paychecks, and all they care about is a yearly refund, as if the total paid was inconsequential.
An intended consequence of the intended dumbing down.
Their income was $85,000. Obviously these are members of the plutocrat class who must be squeezed until they give back all their ill gotten gains.
Years ago, I took in a waif off the street and gave him a desk. He was involved in a Tennessee Trade mission to Moscow and his plans went awry any way......
Come tax time, he declared himself to be a tax preparer and did a few peoples taxes. One woman swore he was the best she ever saw. He always got a big refund for her. It’s easy to get a big refund...... just calculate it out and hope no one checks.
Many found out it was coming during their initial retirement years and they simply became Ex Pats.
Not only is Obamacare a pre-planned intentional leftist mess. Its a controlling part of the demographic warfare waged by Hussein Baraka on America, which includes an invasion of “wet backs” via illegal executive order, so they can “vote” in the 2016 presidential election.This is why Hillary is not addressing her critics, she expects to surf into Presidential Orifice on a huge tsunami of Pina Coladas, who are given amnesty by Baraka’s Imperium.
“Democracy is the theory that the common people know what they want, and deserve to get it good and hard.” - H. L. Mencken
A really bad point.
You're a peasant - get used to it:
The elderly and others who receive Social Security benefits are not immune to owing taxes or, when subject to penalties for nonpayment, from suffering tax liens. Although government benefits are intended to help those in need or to provide senior citizen support, the government still attempts to recover any owed taxes. A tax lien can be a rude surprise to those on Social Security and a fixed income.
http://www.ehow.com/about_6515155_tax-liens-social-security.html
They had to pass it to see how far up your @ss it would go... LOL! :)
The IRS is limited in how much it's allowed to take. The agency can deduct up to 15 percent of benefits due from the SSA per month. Exceptions of SSA benefits that can't be taken include children's benefits or benefits already being impacted by the SSA recovering its own overpayments first; the 15 percent cap is per person. So, two people who are married and both receiving Social Security benefits could lose a total of 30 percent of their combined benefits to the lien.
The IRS will not notify the debtor each month when it takes SSA benefits. Instead, an automatic deduction of benefits paid will occur until the lien and related tax levy are fully paid to the satisfaction of the IRS. This authority is specified in the Internal Revenue Code Section?6331(h)...
It’s an incentive to not find a job, or just consider it a tax for finding one. They shouldn’t have to repay those subsidies. With so many people out of work, and working temporary, you can’t predict your next year’s income.
Welcome home. ;^)
Correct me if I am wrong, but I also believe that the rule that they can only collect from refunds applies only to the fee/tax for not having insurance in the first place.
The overpayment of a subsidy doesn’t fall into that category and is therefore recoverable by all the usual gestapo tactics the IRS has to employ.
I'm betting that a huge number of Americans don't have a clue as to what "net neutrality" is and many of whom have never even heard of it. If we had an educated public, we wouldn't have a lot of crap that's going on today.
As a matter of fact, if we had an educated public, the democrat party would cease to exist, in very short order.
They aren’t low income.”””
A family of 4 making less than $95,000 a year can qualify for subsidies.
It sucks people in from every direction.
But this is Obamacare and has different rules. They'll get it one way or another.
They just can't freeze your accounts or slap a lien on your house like they can for unpaid taxes.
But they can decide to audit you, and if you haven't paid it, you will at that point, however many years they want to go back.
That's why they hired 16,000 more auditors.
Ofcourse, I'd imagine if they suddenly started to go gang busters with their business, they'd be in this position too.
No. Not on o care. Same insurance through work. Taxes just higher overall.
Establishment Republicans stood by whistling while holding the door for them.
At that level it depends on age of family members. Young families aren't going to get much welfare The older they are, the more welfare..
My Obamcare gift was a limit on the amount I could put in my FSA, the threshold for deducting medical went up to 10%, plus the tax on medical devices. Somehow that was all supposed to make my medical cheaper. Thanks again, America, for voting stupid.
I AM home! Both my husband and I felt it completely when we saw our property. Not the house, mind you. It needs a complete remodeling job and has some interesting 70’s quirks. Paneling everywhere and the most colorful toilets and bathtubs! (green and blue, of course!)
But the views are to die for. The acreage can grow crops, raise animals, etc. AND I’VE ONLY HEARD ENLGISH SPOKEN!!!! With the most adorable accents, no less.
A neighbor dropped by today, and was talking about how he courted his wife, raising tobacco, the life histories of everyone in the holler, all with the cutest phrases.
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