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Senior Advisor

IRS about to get tough on Obama care

If you make less than $250,000 your taxes will not increase. Period.

 

If we want your money we will take your money. Period. Now sit the hell down and shut the hell up peasant.

 

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For any month in 2014 that you or any of your dependents don’t maintain  coverage and don’t qualify for an exemption, you will need to make  an individual shared responsibility payment with your 2014 tax return filed in  2015.

In “IRS  Reminds Individuals of Health Care Choices for 2014”the agency details the  calculations Americans can look forward to if they are liable for the tax:

If you (or any of your dependents) do not  maintain coverage and do not qualify for an exemption, you will need to make an individual shared responsibility payment with your return. In  general, the payment amount is either a percentage of your household income or a  flat dollar amount, whichever is greater. You will owe 1/12th of the  annual payment for each month you (or your dependents) do not have coverage and  are not exempt. The annual payment amount for 2014 is the greater  of:

  • 1 percent of your household income that is above the tax return filing  threshold for your filing status, such as Married Filing Jointly or single,  or
  • Your family’s flat dollar amount, which is $95 per adult and $47.50 per  child, limited to a maximum of $285.

As confirmed by previous  IRS  testimony to the tax-writing House Committee on Ways and Means, “taxpayers  will file their tax returns reporting their health insurance coverage, and/or  making a payment”. 

Once fully phased in, the Obamacare individual mandate tax will rise steeply,  to a maximum of 2.5 percent of Adjusted Gross Income or $2,085 – whichever is  higher

 

 

Read more: http://atr.org/irs-warns-obamacare-tax-must-paid-a8164#ixzz2uOH4ogi3

43 Replies
Highlighted
Advisor

Re: IRS about to get tough on Obama care

 individual shared responsibility payment

 

Is that really what they intend to call it?  Its orwellian.  You just cant make this stuff up.

Highlighted
Advisor

Re: IRS about to get tough on Obama care

Quotin' Nancy; I think we are starting to find "what's in it". And it's turning out to be what the populist majority that generally supported it wanted it to be. Only one viable alternative remains, that being single payer, sans no alternatives having been offered by the standing opposition. So " you get to keep" (your favorite phrase) the Bill that your hard fought for and jealously protected democratic system in this the greatest country on earth produced. If you dislike it, run for office. Or send a bunch of your money to someone who is that will represent your views. Otherwise...sign up... or consider your station when you file your taxes. In either case, it is set up so that you won't even have to leave your house or your ever ready keyboard to do so.

Highlighted
Advisor

Re: IRS about to get tough on Obama care

polls don't show the majority wants it.
Highlighted
Advisor

Re: IRS about to get tough on Obama care

A very significant majority "wanted it".  "It" being comprehensive health care and insurance reform.  With all of the drama and the poliitcal rhetoric and the roll out problems it is true that just slight less than 50% now support "it", "it" being the Bill that 3020 and the rest of us got.  All a matter of how you frame the statement.

 

 

And as stated often, a certain and likely significant portion of those (I'd be one) who don't support the Bill we got don't do so because they/we deem it to be highly insufficient and consists of only very modest reforms. and is tilted hard to the players who needed reforming.

Highlighted
Advisor

RCP average 39% for

 
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Veteran Advisor

Re: RCP average 39% for

As bad as Obama's approval rating for all the things he is rated on is, it is half a body higher than those fools in Congress (12.3%) and I think if they were doing their job, the president's job rating would be much better!! How can the highest body of people in the land be doing so many things this badly and stay there? (And it isn't just the DEMS!!)
Highlighted
Advisor

For what? When?

No text or links in your post.

Highlighted
Veteran Advisor

Re: For what? When?

RealClearPolitics polling average ending yesterday. At the same time, Congress approval average is 12.3%!!!!! I think that is more telling than the president's rating.
Highlighted
Advisor

sorry bruce