So, there will be no “penalty” under Obamacare if people don’t sign up for health insurance. Instead they will have to make a Shared Responsibility Payment. From the IRS: Questions and Answers on the Individual Shared Responsibility Provision:
Reporting Coverage or Exemptions or Making Payments
26. What happens if I do not have minimum essential coverage or an exemption, and I cannot afford to make the shared responsibility payment when filing my tax return?
The IRS routinely works with taxpayers who owe amounts they cannot afford to pay. The law prohibits the IRS from using liens or levies to collect any individual shared responsibility payment. However, if you owe a shared responsibility payment, the IRS may offset that liability against any tax refund that may be due to you.
Some people are already talking about making sure they never get refunds. What a surprise.
March 3, 2014
No comments from me but very interesting indeed.
The language makes me smile. Does the government think we’re really that stupid?
I hadn’t heard the phrase, but I knew about the policy of how they would try to collect it — just another way the funding for this debacle was poorly planned.
Just another example of the crazy world we live in.
If a person doesn’t sign up (the young) there is a $95 penalty. Who knows what it will be next year.
Some people in Congress are trying to get a Simple Fairness Act passed. Obama has waived the penalty/employer fairness payment for some businesses — the bill would make the payment for individuals $0 for 2014.
Yes, what a shock. There’s a whole faction of the world that I can’t seem to understand anymore.
You asked about my camera. I mainly use a Canon 5D Mark II. I absolutely adore it, although two years after getting it, I’m still learning new things about it 🙂
Thanks. That sounds like a great camera. Is it heavy to carry around? You take such marvelous pictures.
Andy was taking photos with his medium-format print camera before the fire burned everything up on our land in 2011. Since then we’ve mostly used our little pocket-sized point-and-shoots to record the rebuilding and the other things we’ve been doing . He’s 79 now and when he hikes he tries to lug as little weight as possible — it’s better for the back and knees. Life is one adjustment after another — not all of them bad by any means. I do love the internet and a lot of the new technology.