Uh oh. And the IRS WILL extract your penalty from your refund. So that’s nice. The tax collectors are already delaying refunds in what appears an effort to make sure they get everything Obamacare says is coming to the agency.
America, land of the free.
Remember, the House Republican leadership made sure there was funding for this debacle.
(From Real Clear Politics)
The three are Michigan’s Sander Levin, the ranking Democrat on the Ways and Means Committee, and Democratic Reps. Jim McDermott of Washington, and Lloyd Doggett of Texas. All worked to help steer Obama’s law through rancorous congressional debates from 2009-2010.
The lawmakers say they are concerned that many of their constituents will find out about the penalties after it’s already too late for them to sign up for coverage, since open enrollment ended Sunday.
That means they could wind up uninsured for another year, only to owe substantially higher fines in 2016. The fines are collected through the income tax system…
…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.