American Tax ReformPresident Obama’s Internal Revenue Service today quietly released a series of Obamacare “Health Care Tax Tips” warning Americans that they must obtain “qualifying” health insurance – as defined by the federal government – or face a “shared responsibility payment” when filing their tax returns in 2015. The term “shared responsibility payment” refers to the Obamacare individual mandate tax, one of at least seven tax hikes in the healthcare law that directly hit families making less than $250,000 per year.
In “Four Tax Facts about the Health Care Law for Individuals” the agency writes:
Your 2014 tax return will ask if you had insurance coverage or qualified for an exemption. If not, you may owe a shared responsibility payment when you file in 2015.
In “The Individual Shared Responsibility Payment- An Overview” the agency warns Americans they must prove they were covered each and every month of the year:
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#ixzz2uP5JWVCy
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Shared responsibility???? That is straight up communism. I don’t have health insurance. I can’t afford it. I’m not paying their communism fee either.
Damned right Bulldog.
The taxpayers are already paying for enough.
Dame straight Bulldog! I’m on a fixed income and cannot afford it either. As it is my rent will be going up again soon to make that 50% of my fixed income.
If I could have afforded to set some money aside, I would have been out of my current living situation long before now. I fully anticipate my next move will be either the street or debtor’s prison.
This government and it’s corporate watch dogs are devastating the population!!
. . .
Let the govt. use some of the foreign aid they send to other country’s to buy the illegal immigrants some insurance. Hell, they get welfare insurance now. This country is in the toilet now – don’t help them flush it!
It’ll be interesting to see 16,000 armed IRS agents trying to imprison about ten million Americans mostly armed as well over maybe a few hundred or less “tax” dollars. Imagine: spending maybe 1,000 dollars per agent per day (including his salary, gun, kevlar bullet proof vest, helmet, hotel room and meals per diem), or likely more, just to collect a coiuple of hundred dollars from each non-compliant taxpayer. Coupling this with most gun owners in Connecticut and non compliant gun owners in NYC as well as NY state–we’re not talking Texas here, we’re talking blue states!–and like I said it’ll be interesting…I am starting to think more and more Americans will NOT be compliant, and, when it comes to the stinkin’ ObamaCare website, will not be able to be compliant even if they want to be!
Which is probably why the site does not work…to hell with health care, as long as the IRS gets its stolen money.
So let me get this straight:
They steal our ‘money’ in the form of ILLEGAL taxes, and now they’re planning on stealing the few crumbs they scatter back to us???
NOW THAT’S CHUTZPAH!!!