This
year is the first time ordinary Americans will experience the
complicated interactions between the health care law and taxes. Based
on congressional analysis, tax preparation giant H&R Block says
roughly 4 million uninsured people will pay penalties.
The IRS has warned that health-care related issues will make its job
harder this filing season and taxpayers should be prepared for long
call-center hold times, particularly since the GOP-led Congress has
been loath to approve more money for the agency.
[...]
And the cost of being uninsured in America is going up significantly.
For 2014, the fine was the greater of $95 per person or 1 percent of
household income above the threshold for filing taxes. That fine will
be collected when taxpayers file their 2014 returns.
But this year the fine will jump to the greater of 2 percent of income
or $325. By 2016, the average fine will be about $1,100, based on
government figures.
Polls show that many taxpayers are unaware of the potential financial
exposure.
Democrats
(trying to shove the genie back into the bottle) seek relief from
health law penalties
Ya reap whatcha' sow.
ReplyDeleteToo many people fail to understand that simple principle.
Useful idiots. Lawyers and unions are going to find out the meaning of that phrase too!
ReplyDeleteTim
That is presuming folks will be dumb enough to indicate they don't have insurance on their tax form. Better still they should file a paper form and in the place where it asks simply write in ALL CAPS - TELL BARACK TO GO FUCK HIMSELF
ReplyDelete"The voters have spoken. Now they must be punished." - Former NYC Mayor Ed Koch.
ReplyDelete