IRS Says No

[somarco]

"IRS revenue agents will not be involved. There will not be audits," IRS Deputy Commissioner Steven Miller told a subcommittee of the tax-writing Ways and Means Committee in the Republican-controlled House of Representatives.

The law, passed in 2010 and upheld by the Supreme Court, will charge individuals a fee, or tax, if they fail to buy insurance starting in 2014.

Opponents of the healthcare measure have focused on that requirement, with some Republicans saying they worry the IRS, the agency responsible for tax collection and tax law enforcement, will harass people who fail to buy insurance.

"In most cases, taxpayers will file their tax returns reporting their health insurance coverage, and-or making a payment, and there will be no need for further interactions with the IRS," Miller said.

IRS: Agents Won't Be Enforcers of Obamacare Mandate - U.S. Election 2012 - CNBC

 

[Mark]

The I.R.S. tells me no all the time.

 

[somarco]

The I.R.S. tells me no all the time.

So does my wife, but that is a different topic . . .

 

[GreenSky]

So does my wife, but that is a different topic . . .

Funny. She always tells me "yes."

(Sorry, but you gave me no choice. That was WAY too easy).

Rick

 

[HealthGuy]

What about fraud? Who is going to find out the bogus health plan I put on my tax return isnt insurance? This article makes no sense to me.

 

[Yagents]

What about fraud? Who is going to find out the bogus health plan I put on my tax return isnt insurance? This article makes no sense to me.

For W-2 employees, it could be a new box to check on the W-2 or new letter code showing creditable coverage.

For everyone else, it could be a form the insurance company sends you confirming ownership of creditable coverage (like a CCC), or a similar form like a 1099/5498

No form, no shoes, no service...pay penalty at the door

 

[toddoxley]

But, if one does not pay the tax/penalty then the IRS has no recourse ie: levy etc..

 

[bobson]

But, if one does not pay the tax/penalty then the IRS has no recourse ie: levy etc..

Everyone will pay because it is for the good of the country and our fellow man. Well maybe the arch-cons won't because they are selfish human beings who start businesses to make profits, instead of lifting up those around.

Las Vegas 1921 (hot and dry and no casinos)

 

[AllenChicago]

It was pointed out in a meeting today that almost every working American who doesn't have Qualified Health Insurance will pay the HIGHER 1% penalty, vs. the static, lower, $95 amount. Anything over $9,500 a year in taxable income will generate a penalty-tax greater than $95. Until today, I hadn't paid any attention to the 1%.. just the $95 per adult, $47.50 per child.
-AC

"Those who aren't exempt or who don't have employer- or government-provided insurance and refuse to buy their own will begin to pay fines in 2014. Those fines will be due with income taxes the following April…

• In 2014, the penalty is either $95 [annually] for every adult and $47.50 for every child under the age of 18 in the household (up to $285 for a family), or 1 percent of taxable income for the household, whichever is larger.

• In 2015, it's $325 for every adult and $162.50 for every child (up to $975 for a family), or 2 percent of taxable income, whichever is larger.

• In 2016, it's $695 for every adult and $347.50 for every child (up to $2,085 for a family), or 2.5 percent of income, whichever is higher.

• After 2016, the penalty increases annually by the cost-of-living adjustment."

 

[NCAgent]

Well, it looks like I'll have to wait on my unaffordable car payment since I have to get health insurance now...