IRS Warns: Obamacare Tax Must Be Paid with Tax Return

[Cebu_4_2]

About time to look into that "blind trust" I was mentioning a while back...

IRS Warns: Obamacare Tax Must Be Paid with Tax Return

Agency employs Orwellian term “Shared Responsibility Payment” to describe Obamacare individual mandate tax.

President 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 (http://www.irs.gov/uac/Newsroom/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 (http://www.irs.gov/uac/Newsroom/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 (http://www.irs.gov/uac/Newsroom/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 (http://waysandmeans.house.gov/uploadedfiles/miller_testimony_os911.pdf) 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

Posted by John Kartch (http://www.atr.org/search?publisher=John%20Kartch) http://www.atr.org/images/twitter_icon.png (http://twitter.com/@johnkartch)on Tuesday, February 25, 2014 6:20 PM EST
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[BrewTech]

SHARED RESPONSIBILITY for fucking what?

What is it that I am sharing responsibility for? How is this shit even REMOTELY justifiable in a sane person's thinking?

[Cebu_4_2]

It's not, it's the LAW. Now lets look into that "blind Trust" idea.

[Ares]

It's not, it's the LAW. Now lets look into that "blind Trust" idea.

Look up the legal meaning in Title 26 on just exactly WHO is liable for those taxes. It isn't you, but everyone (including me, so I'm guilty as well) file returns and W-2's because it's a condition of employment stating we are Federal Employee's working for a Federal Employer and are liable for those taxes.

A blind trust won't help you either. If you're the executor over the trust, you're still liable for the taxes. I'm still researching how to correct my standing with the Social Security Administration notifying them that the W-2 was signed under Threat / Intimidation / Coercion. (It's a "requirement" for employment) and should not be considered valid.

[Cebu_4_2]

I will file nothing this year and have to abandon child tax credits I guess. I like free money.

[Ares]

I will file nothing this year and have to abandon child tax credits I guess. I like free money.

If you have a W-2 on file, you are required to file a return. Your employer notifies SSA that you've earned this much for the past year. You owe Tax on a percentage of it, so they send your information over to the IRS and await your return. If it doesn't match theirs you get an audit. If it does match and you file your exemptions, you get a return on a percentage. You already stated you are a Federal Employee and owe taxes. If you do not file you'll be considered in default and will subject yourself to a lot more IRS scrutiny that you probably want to deal with.

[mick silver]

its all about sucking more taxes from people , anyone remember rome didnt they fall because over taxing and to many hand outs

[Ares]

its all about sucking more taxes from people , anyone remember rome didnt they fall because over taxing and to many hand outs

Yeah they called it Bread and Circus... We have the same thing really. Only we call it Welfare and Warfare.

[Cebu_4_2]

If you have a W-2 on file, you are required to file a return. Your employer notifies SSA that you've earned this much for the past year. You owe Tax on a percentage of it, so they send your information over to the IRS and await your return. If it doesn't match theirs you get an audit. If it does match and you file your exemptions, you get a return on a percentage. You already stated you are a Federal Employee and owe taxes. If you do not file you'll be considered in default and will subject yourself to a lot more IRS scrutiny that you probably want to deal with.

I only file to get the tax credit. All income the company earns gets burned up in bills and expenses. No W2 forms or 1099's, I just file numbers which really have little to do with anything. Having a company that foots bills and expenses is nice as I myself don't need to get a job working for some douche to earn a hunnet fiddy bux a week to pay such bills.

But seriously I need to do the blind trust thing, I doubt the IRS will stop at returns if there is nothing for them to gain at that angle. If there is nothing then they will put a silent lien on my property which I need to protect.

[Ares]

I only file to get the tax credit. All income the company earns gets burned up in bills and expenses. No W2 forms or 1099's, I just file numbers which really have little to do with anything. Having a company that foots bills and expenses is nice as I myself don't need to get a job working for some douche to earn a hunnet fiddy bux a week to pay such bills.

But seriously I need to do the blind trust thing, I doubt the IRS will stop at returns if there is nothing for them to gain at that angle. If there is nothing then they will put a silent lien on my property which I need to protect.

Instead of a blind trust, look into a Foreign trust

[Ponce]

Will they be confiscating next all tax return as your contribution to the war effort?, to the 1%'s?, for banks not to go broke?, for one of Obama's multiple vacations?, for more bullets?......... don't count on your tax return till you hold it in your hand :)

V

[madfranks]

SHARED RESPONSIBILITY for fucking what?

What is it that I am sharing responsibility for? How is this shit even REMOTELY justifiable in a sane person's thinking?

You are responsible to pay for the subsidy that the deadbeats receive for a free or reduced cost insurance policy. You are responsible for them now, the law declares it so.

[monty]

It's not, it's the LAW. Now lets look into that "blind Trust" idea.

I believe Ponce's advice to a Land Patent and "OPT OUT" of social security is superior to a blind trust. Then you are free of the bureaucrats.

Sent from my iPad using Forum Runner

[Ares]

I believe Ponce's advice to a Land Patent and "OPT OUT" of social security is superior to a blind trust. Then you are free of the bureaucrats.

Sent from my iPad using Forum Runner

Unfortunately they don't really make all that clear the guidelines for "opting out"... I've been researching it for a good year or so now.

[mick silver]

there only one way to stay off there radar and thats to sell every thing you own then find a real nice huge National Park and go into as far you can hike then some ,carry what you will need to build something small to live in and be able to hunt and live off the land know what there before going that you eat there

[Ares]

https://scontent-a-ord.xx.fbcdn.net/hphotos-frc3/t1/1377282_566462096741311_1851733725_n.png

[mick silver]

http://1.bp.blogspot.com/-SIZ5W2qmhHs/UoaSXAqLU2I/AAAAAAAAMj4/bc-MNe8vMPM/s1600/Cartoon+-+Healthcare+Pitchman.jpghttp://3.bp.blogspot.com/-GTGvsMV347M/UEongkeQWbI/AAAAAAAAVB8/J4uEut1TBP4/s1600/stupid.jpg

[mick silver]

http://1.bp.blogspot.com/-2-5H1mBGRJc/Uo_FurB7rSI/AAAAAAAAMnA/7kwaKYvZiKA/s1600/Cartoon+-+Obamacare+Fix.jpgfuck i am on a roll ...https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcTBytYq7zoYIGqN2PbTv_r1GX-5O4KwR4KFagBwo6hwARZ56XpU

[mick silver]

http://2.bp.blogspot.com/-BF_wbgcHFvI/UotyWUZjOzI/AAAAAAAAc5E/O3ujC3F4OGE/s1600/obamacare-cartoon-2.jpghttp://i.huffpost.com/gen/1483887/thumbs/o-OBAMACARE-570.jpg?1https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcQUUi3UQo3t_24Qy7fKRweQfJe8u6_CC V3_oOjfD7rA4HRIWiXy

[midnight rambler]

SHARED RESPONSIBILITY for fucking what?

What is it that I am sharing responsibility for? How is this shit even REMOTELY justifiable in a sane person's thinking?

Where in the world did you get the impression that the assholes that come up with this nonsense are sane?? ???

[Jewboo]

fuck i am on a roll ...




http://www.jamspreader.com/wp-content/uploads/2013/11/CLAP.gif


You really are Mick...lol.

[monty]

Unfortunately they don't really make all that clear the guidelines for "opting out"... I've been researching it for a good year or so now.
I
No, actually they twist the wording to make people believe they must participate in Social Security. If you are fortunate enough to find a company that will hire you without signing a Form W-4 you have "opted out". Unfortunately most companies are so intimidated by the IRS they won't hire a person who refuses to sign a W-4. I seem to recall reading about a case in Texas where the court ruled that the company must hire an individual even though he wouldn't sign the W-4. I haven't been able to find where I read that.

Sent from my iPad using Forum Runner

[palani]

Unfortunately most companies are so intimidated by the IRS they won't hire a person who refuses to sign a W-4.
Truly. So look for options. You don't have to work for a company do you? Why not donate your labor to the LLC of your choice. The LLC might be looking for an intern to train and can subcontract that intern out to any company who chooses to pay for the service. You end up working for nothing (which by the way is the normal state of affairs anyway) and you let the LLC pay for your living expenses. The latin phrase is QUID PRO QUO.

[Ares]

I
No, actually they twist the wording to make people believe they must participate in Social Security. If you are fortunate enough to find a company that will hire you without signing a Form W-4 you have "opted out". Unfortunately most companies are so intimidated by the IRS they won't hire a person who refuses to sign a W-4. I seem to recall reading about a case in Texas where the court ruled that the company must hire an individual even though he wouldn't sign the W-4. I haven't been able to find where I read that.

Sent from my iPad using Forum Runner

True, companies use the W-4 to show that they have "employees" and are entitled to some tax exemptions. So signing one grants the "employer" certain tax exemptions for having "employees". Which encourages "employers" to keep "employee's" on staff so as to limit their tax liabilities...

[Ares]

Truly. So look for options. You don't have to work for a company do you? Why not donate your labor to the LLC of your choice. The LLC might be looking for an intern to train and can subcontract that intern out to any company who chooses to pay for the service. You end up working for nothing (which by the way is the normal state of affairs anyway) and you let the LLC pay for your living expenses. The latin phrase is QUID PRO QUO.

Interesting, I actually thought about doing that with a Foreign trust. I'm assuming it would work the same way as an LLC, only the trust would be located outside the jurisdiction of the U.S. International Treaties get involved when you enact a foreign trust.

[Cebu_4_2]

Interesting, I actually thought about doing that with a Foreign trust. I'm assuming it would work the same way as an LLC, only the trust would be located outside the jurisdiction of the U.S. International Treaties get involved when you enact a foreign trust.

Could get tricky if used to own a property. Foreign owned at local county and state levels could make things more intrusive than one might want. Still comparing it to the blind trust thing. My real CPA passed away and I have not found a replacement. I feel vulnerable doing taxes and legalese on my own. I haven't made anything except the past 2 years for child tax credit and earned income... pay none get some... I like it.