Trying to understand ObamaCare
Posted by taxguru on January 11, 2015
I refuse to refer to this law as the name our insane rulers in DC gave it, ACA. Over the decades, the bozos in DC have named several laws opposite to their actual details, such as pretty much any “Tax Simplification” act. This one takes the prize for most oxymoronic title, as anyone who has been paying attention can attest. The least likely result of this ridiculous legislation will be anything more affordable. Quite the opposite is a certainty.
New IRS Explanations
21 pages of Obamacare tax instructions, IRS demands ‘shared responsibility payment’ – The 21 pages are in IRS’s Publication 5187, which can be downloaded here or from IRS’s special page on ObamaCare Tax Provisions.
The New Penalty For Not Having Proper Insurance
I Warned You About Your Tax Refund – Rush Limbaugh once again explains a most likely temporary loophole in the penalty; it can only be taken from refunds and not forced to be paid of there is no refund.
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