- 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
Avoid the obamacare penalty by limiting employer's withholding tax
Posted on 8/19/13 at 10:30 am
Posted on 8/19/13 at 10:30 am
LINK /
Is this true? The IRS can't collect outside of what's left over after paying federal income taxes from withholdings?
quote:
The IRS’s only collection authority is to take the money from a worker’s federal withholding tax
Is this true? The IRS can't collect outside of what's left over after paying federal income taxes from withholdings?
This post was edited on 8/19/13 at 10:42 am
3
Posted on 8/19/13 at 10:39 am to C
That's an interesting contention. Perhaps by calling it a tax instead of a fine they inadvertently limited the IRS' collection power. The IRS issues fines every day that the collect upon without raiding withholding money.
This post was edited on 8/19/13 at 10:40 am
Posted on 8/19/13 at 10:43 am to wilfont
quote:
Perhaps by calling it a tax instead of a fine they inadvertently limited the IRS' collection power.
Where does the court case around it being a Tax stand??? Theres a lot of speculation that Roberts ruled it a Tax as a round about way to get it shot down.
The legislation originated in the Senate, which under the constitution, is illegal.
Posted on 8/19/13 at 10:48 am to Lsut81
quote:
Where does the court case around it being a Tax stand???
I just read an article that says a group calling itself the Pacific Legal Foundation has filed suit siting the bill's origination as its foundation. I don't know where it stands in the system.
Posted on 8/19/13 at 12:01 pm to wilfont
Also, if i'm reading it correctly, the tax payer will save by low-income people not recieving the income tax credit. Sounds like a win-win.
Posted on 8/19/13 at 12:52 pm to Lsut81
quote:
The legislation originated in the Senate, which under the constitution, is illegal.
It was an H.R. Bill not an S.
They took a house bill and gutted to amend it. It's definitely not the way our forefathers intended it but I would be shocked if SCOTUS overruled it on that.
Posted on 8/21/13 at 8:00 pm to BACONisMEATcandy
Bump. Can anyone confirm if this is true about how the IRS can enforce the tax?
Posted on 9/30/13 at 9:00 am to C
This is an interesting strategy.
I would like to know if you could buy a traditional health insurance policy from a foreign insurance company.
I'm talking about the traditional type where you pay the doctor cash and file your own reimbursement. The provider would have no involvement with the claim processing. The foreign company would be real insurance (no preexisting conditions, no kids covered till age 26 etc.) so it would not meet ACA guidelines, but it would be priced accordingly.
There would be risks in dealing with an overseas company but there must be a few respectable foreign firms out there.
This way you stay out of Obamacare, manage your withholding to avoid the fine, and run your own show on your own terms.
I would like to know if you could buy a traditional health insurance policy from a foreign insurance company.
I'm talking about the traditional type where you pay the doctor cash and file your own reimbursement. The provider would have no involvement with the claim processing. The foreign company would be real insurance (no preexisting conditions, no kids covered till age 26 etc.) so it would not meet ACA guidelines, but it would be priced accordingly.
There would be risks in dealing with an overseas company but there must be a few respectable foreign firms out there.
This way you stay out of Obamacare, manage your withholding to avoid the fine, and run your own show on your own terms.
Posted on 9/30/13 at 11:39 pm to C
Only the way you described in the opening. They cannot seize and sell your property, or place a lien.
Posted on 10/1/13 at 12:08 pm to Lsut81
quote:
The legislation originated in the Senate, which under the constitution, is illegal.
It originated in the House as H.R. 3590.
Posted on 10/1/13 at 12:09 pm to BACONisMEATcandy
quote:
They took a house bill and gutted to amend it. It's definitely not the way our forefathers intended it but I would be shocked if SCOTUS overruled it on that.
This is true. The origination in the house provision has turned out to be largely unenforcible, because while all revenue and appropriations bills must originate in the house, the senate is free to make revisions.
Posted on 10/1/13 at 12:39 pm to SpidermanTUba
That's not anything new. It often happens both ways. Sometimes, it's done on purpose. A bill that was started to recognize a scout troop in Wyoming for saving a buffalo will get stripped and turned into $400 million worth of funding for small grants and projects all over the state.
Posted on 10/1/13 at 12:40 pm to C
I'm not sure this is a very practical approach. You would have to set your withholding to exactly your income tax liability for it to work. If you have too much withheld, the IRS will simply reduce your refund by the amount of Obamacare tax you owe. If you have too little withheld they will simply apply the first payments you make of tax to the Obamacare tax, and then your outstanding income tax, penalties and interest. If you do not pay the income tax the IRS can use collection processes to pursue the unpaid income tax, and how do you think they will apply any money they happen to collect?
Posted on 10/1/13 at 1:13 pm to Poodlebrain
quote:
If you do not pay the income tax the IRS can use collection processes to pursue the unpaid income tax, and how do you think they will apply any money they happen to collect?
There's gotta be a loophole...
Posted on 10/1/13 at 1:24 pm to Poodlebrain
quote:
If you have too little withheld they will simply apply the first payments you make of tax to the Obamacare tax, and then your outstanding income tax, penalties and interest
looks like entrapment to me
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News