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If you adjust your exemptions (perfectly legal) so that you get your money upfront as opposed to a refund, there is no way for the IRS to collect the fine.
Yes. Because the Supreme court ruling said that the tax could not be punative. But, owing the IRS money is in itself is not punitive, but is still there on the books that you owe.
Your 2014 IRS filing which you need to file by 4/15/2015 will ask if you were insured in 2014.
As of right now, open enrollment for an individual policy continues to 3/31/2014.
Ok, busted! Thread title is misleading. I meant penalties, not the ACA itself.
Hm, wonder if I can fix it? Nope!
Mea culpa.
Oh, I'm not a Catholic either.
Anyway, isn't that penalty supposed to help pay for the Act?
I don't wish ill on anyone, and have friends that this will really help, but why did it have to be so rushed? Chaos is the last thing anyone needs in dealing with insurance, which is already stressful enough. Now to think I might be penalized or taxed (which is it?)if I don't register properly, and they're still writing the damn thing! I pity the people that truly need this. Hope it works out though.
Relax, its many months in the future. The real concern is for people who already have insurance that will end on 12/31. They must get enrolled by 12/15 or have a lapse in coverage. The uninsured have 3 1/2 more months after that.
Yup, there all on board with the evil T partier Ted Cruz and will come begging for a delay that two weeks ago they fought against tooth and nail
LOL
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