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Just curious. From my research, the IRS isn't able to garnish your wages or seize property. If you are owed a refund, they can take it out of that, but if you simply don't pay it, there isn't much recourse for the govt. What's to stop people from simply refusing to pay?
Just curious. From my research, the IRS isn't able to garnish your wages or seize property. If you are owed a refund, they can take it out of that, but if you simply don't pay it, there isn't much recourse for the govt. What's to stop people from simply refusing to pay?
you are asking what the IRS will do to someone who owes them money????? first they will compund the interest. Of course with oabmacare and the IRS under fire, they may be initially gentle and then set the hook if obamacare survises the court hearing.
… and then get ready to pay for every medical treatment out of your pocket. if you need to ask about paying the penalty, you probably can't afford the costs of private health insurance.
I was there myself. And it took a long time to pay off a $6500 dental bill. Should have taken that dental rider when I signed up, but I was going the cheap route on my insurance.
Just curious. From my research, the IRS isn't able to garnish your wages or seize property. If you are owed a refund, they can take it out of that, but if you simply don't pay it, there isn't much recourse for the govt. What's to stop people from simply refusing to pay?
Give it a shot and get back to us with the results!
you are asking what the IRS will do to someone who owes them money?????
I don;t if they can do that, not sure if that was excluded with the law. What I do know is it's specifically written in the law they cannot seize assets, garnish wages or any of the normal ways they would collect an outstanding debt. The only way for them to collect it is from your tax refund, no tax refund and there is nothing to collect.
The law has not changed regarding how the IRS can collect Obamacare penalty money.
Questions and Answers on the Individual Shared Responsibility Provision
29. What happens if I owe an individual shared responsibility payment, but I cannot afford to make the 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.
The law has not changed regarding how the IRS can collect Obamacare penalty money.
Questions and Answers on the Individual Shared Responsibility Provision
29. What happens if I owe an individual shared responsibility payment, but I cannot afford to make the 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.
Whether you pay or get a refund is all in how you fill out your W-4 form.
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