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Tag Archives: Internal Revenue Service

Health Law Tax Penalty? I’ll Take It, Millions Say

NY Times
By ROBERT PEAR | Oct 26, 2016
 
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The architects of the Affordable Care Act thought they had a blunt instrument to force people — even young and healthy ones — to buy insurance through the law’s online marketplaces: a tax penalty for those who remain uninsured.

It has not worked all that well, and that is at least partly to blame for soaring premiums next year on some of the health law’s insurance exchanges.

The full weight of the penalty will not be felt until April, when those who have avoided buying insurance will face penalties of around $700 a person or more. But even then that might not be enough: For the young and healthy who are badly needed to make the exchanges work, it is sometimes cheaper to pay the Internal Revenue Service than an insurance company charging large premiums, with huge deductibles.

“In my experience, the penalty has not been large enough to motivate people to sign up for insurance,” said Christine Speidel, a tax lawyer at Vermont Legal Aid.

Some people do sign up, especially those with low incomes who receive the most generous subsidies, Ms. Speidel said. But others, she said, find that they cannot afford insurance, even with subsidies, so “they grudgingly take the penalty.”

The I.R.S. says that 8.1 million returns included penalty payments for people who went without insurance in 2014, the first year in which most people were required to have coverage. A preliminary report on the latest tax-filing season, tabulating data through April, said that 5.6 million returns included penalties averaging $442 a return for people uninsured in 2015.

 
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Epic Smackdowns | Trey Gowdy Style PT 6 | IRS

Trey Gowdy Questions Law Professor Over Need For Special Counsel In IRS Scandal

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Epic Smackdowns | Trey Gowdy Style PT 5 | Obama, Loretta Lynch, Lois Lerner

Watch Trey Gowdy’s Explosive Question About Obama Refusing to Obey the Law

 

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Epic Smackdowns | Trey Gowdy Style PT 4 | Obama, Susan Rice, Benghazi

Boom! Trey Gowdy Just Absolutely Shreds Obama!

 

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Epic Smackdowns | Trey Gowdy Style PT 3 | Syrian Refugees, DHS, DEA

Trey Gowdy Rips Obama Over Bringing in Syrian Refugee’s

 

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Epic Smackdowns | Trey Gowdy Style PT 2 | Hillary Clinton

Rep Gowdy Tears Into Clinton

 

Trey Gowdy Dismantles Every Hillary Clinton Lie

 

Hillary Clinton Snaps At Trey Gowdy During Hearing Instantly Regrets It

 

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Epic Smackdowns | Trey Gowdy Style | Black Lives Matter, Gun Control

Trey Gowdy utterly demolishes Black Lives Matter & ethnic studies professor

DON’T PLAY “RACE CARD”: REP. TREY GOWDY TO WHITE HOUSE ADVISOR

Trey Gowdy completely shuts down liberal gun grabber

The IRS can seize bank accounts without filing criminal charges

America's Watchtower

 IRSEven when you consider the IRS targeting scandal this New York Times story might just be the most egregious abuse of power by the IRS and it just might dwarf the aforementioned scandal.

  If the above-linked story is true the IRS is seizing the bank accounts of some small business owners without even alleging a crime has been committed and in some cases no charges are ever brought forward.

  Here is more:

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IRS rules required Lois Lerner to keep paper copies of all her “lost” emails

America's Watchtower

  Yesterday, in typical Friday news dump fashion, the IRS informed the Congress that all of Lois Lerner’s inter-agency emails were accidentally deleted when the agency’s computer crashed. 

  Even if we give the corrupt agency the benefit of the doubt it is not believable that none of the lost files and emails were backed up and could not be recovered. I can guarantee you this; if the IRS computers which crashed had held the personal information of taxpayers you can bet your ass the IRS would be able to recover that information. 

  But even if we take yet another leap of faith and once again give the IRS the benefit of the doubt and none of these emails were backed up electronically there is still a nagging little problem for the IRS according to this story.  

 

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