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Video & Multimedia

PoliticAverse

(26,366 posts)

3. The penalty $95 in 2014, it's $325 in 2015, $695 in 2016, or...

Reply to Tx4obama (Original post)

Wed Jun 27, 2012, 02:21 AM

Jun 2012

1.0% of taxable income in 2014, 2.0% of taxable income in 2015, and 2.5% of taxable income in 2016.

(it's the higher of the fixed fee or taxable income).

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11 replies

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Highlight:

Lawrence O'Donnell: The ACA/Obamacare mandate is a 'mirage' & liberals did NOT ever want the mandate [View all] Tx4obama Jun 2012 OP

Simply beautiful Samantha Jun 2012 #1

liberals wanted a public option or Medicare for all. This plan was just a version of the republican still_one Jun 2012 #2

The penalty $95 in 2014, it's $325 in 2015, $695 in 2016, or... PoliticAverse Jun 2012 #3

Is that a personal penalty or corporate one? n/t Tx4obama Jun 2012 #4

That's the personal penalty.... PoliticAverse Jun 2012 #5

But as stated in the 'video' the IRS can NOT collect any money at all for penalties Tx4obama Jun 2012 #6

The method of collection the IRS apparently will use is to deduct the penalty from any future refund PoliticAverse Jun 2012 #7

You've confused me. Did you watch the video? Tx4obama Jun 2012 #8

Yes I watched it. They can't use their normal methods (leins or levys). But he didn't mention ... PoliticAverse Jun 2012 #9

Ah okay - that makes sense. Maybe O'Donnell doesn't know about that part n/t Tx4obama Jun 2012 #10

Individual Mandate Upheld liberal from boston Jun 2012 #11