7.9.12 -- This Associated Press article is amazing because it reveals that the IRS would be charged with collecting the ObamaCare taxes and would have the authority to penalize each uninsured adult $645. However, here is the kicker:
“There are no civil or criminal penalties for refusing to pay it and the IRS cannot seize bank accounts or dock wages to collect it.”
“No interest accumulates for unpaid penalties.”
“So how can the IRS enforce the mandate? Scary letters and threats to withhold tax refunds.”
“For those who don't qualify for a refund, a stern letter from the IRS can be effective, even if it doesn't come with the threat of civil or criminal penalties, said Elizabeth Maresca, a former IRS trial attorney…”
“The IRS is expected to spend $881 million on the law from 2010 through 2013, hiring more than 2,700 new workers and upgrading its computer systems…”
“…In 2010, House Ways and Means Committee Republicans issued a report saying the IRS may need as many as 16,500 additional auditors, agents and other employees "to investigate and collect billions in new taxes from Americans."
To read the entire article, please go to:
7.8.12 -- “Can IRS manage to police taxes and health care law?” -- by Stephen Ohlemacher, Associated Press -- http://www.usatoday.com/money/industries/health/story/2012-07-09/IR...
6.28.12 – “The Most Deceptive Tax Increase in American History” – by David French
Excerpts from this article:
Under the Act’s complicated shared responsibility payment structure, the minimum shared responsibility payment amount per year for each adult who lacks minimum essential coverage will be $95 for 2014, $325 for 2015, $695 for 2016, and $695 or more for 2017 or later, increased due to cost-of-living adjustments…
…where a taxpayer’s household income (minus the amount of the applicable threshold for filing a tax return) is $50,000, the shared responsibility payment amount per year would be, at a minimum, $500 for 2014, $1,000 for 2015, and $1,250 for 2016 or later.