- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: New report shows the number of uninsured in the US grew by 2 million
Posted on 7/10/17 at 8:00 am to Sidicous
Posted on 7/10/17 at 8:00 am to Sidicous
quote:
Except one of POTUS Trump's earliest EO's was to suspend the enforcement by the IRS
Um, not really. It merely softens the stance. I know...semantics. But it didn't remove the enforcment completely.
LINK
Posted on 7/10/17 at 8:26 am to NASA_ISS_Tiger
quote:
Um, not really. It merely softens the stance. I know...semantics.
Well, while true it would also give a high indication of low IQ.
Hrm, report and pay a fine or not report and hang on to my own money? Tough choice.
quote:
But it didn't remove the enforcment completely.
And as the same author earlier indicated Forbes again:
"So what would the penalty for noncompliance be? Jail time? Nope. The language in the Act specifically rules out jail time, saying at Section 500A(g)(2)(A):
In the case of any failure by a taxpayer to timely pay any penalty imposed by this section, such taxpayer shall not be subject to any criminal prosecution or penalty with respect to such failure.
So, no jail time.
But that means that the IRS will chase you and lien your property if you don't pay, right?
Nope. That's not allowed under the Act. At 500A(g)(2)(B)(i), the Treasury cannot "file notice of lien with respect to any property of a taxpayer by reason of any failure to pay the penalty imposed by this section."
So, no liens.
Then, clearly there will be levies or seizures on your wages and account, right?
Nope. Not that either. Under 500A(g)(2)(B)(ii), the Treasury cannot "levy on any such property with respect to such failure."
To recap then, by law, you have to pay the penalty. But if you don't, you won't go to jail, you won't be liened and you won't be levied for collection."
And now with POTUS Trump's EO, don't even have to report if have coverage at all
Popular
Back to top
Follow TigerDroppings for LSU Football News