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Old Sep 11, 2012, 08:31 PM
Alarm Bells Continuing!
Big Foot 48's Avatar
Arizona
Joined Oct 2001
276 Posts
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IRS Won't Audit You!

If you choose to not buy health insurance and pay the fine, it looks like, for now, the IRS won't be demanding proof that you didn't buy health insurance. Look for massive tax evasion until this loophole is closed by audit or other means.

First the IRA Commissioner's statement:
Quote:
"IRS revenue agents will not be involved. There will not be audits," IRS Deputy Commissioner Steven Miller told a subcommittee of the tax-writing Ways and Means Committee in the Republican-controlled House of Representatives.
http://www.cnbc.com/id/48990224

And the fines Obama set up, who will be enjoying a lush multi-millionaie retirement when the big taxes kick in.
Quote:
  • Flat fee: The first tier for lower income taxpayers is fixed, starting at $95 for calendar year 2014 (the first year the mandate is effective), $325 in 2015, and $695 in 2016 and beyond. The total family penalty is capped at 300% of this flat dollar tax $2,085 in 2016 for those earning less than about $110,000, according to the CRS.
  • Percentage of income: The next tier is based upon a percentage of income: 1.0% in 2014, 2.0% in 2015, and 2.5% thereafter.
http://www.forbes.com/sites/gracemar...g-to-cost-you/
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