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Trump repeals aca penalty via executive order

Trump repeals aca penalty via executive order

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by: friday1 Active Indicator LED Icon 9 OP 
~ 7 years ago   Jan 21, '17 10:36am  
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friday1 Active Indicator LED Icon 9 OP 
~ 7 years ago   Jan 21, '17 10:38am  
Its not 24 hours yet many tax prepares have yet to process this. 2.5% of your gross is a chunk of money. 4951
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Fallon Active Indicator LED Icon 18
~ 7 years ago   Jan 21, '17 10:40am  
Removed By Request 4951
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beastmode Active Indicator LED Icon 12
~ 7 years ago   Jan 21, '17 11:29am  
There is no penalty for not paying it. Only thing that happens is one gets less of a tax refund. If they are not owed a refund then nothing happens. It likely cost more from an IRS standpoint to reduce the refund amount than actually getting the money back. Not sure about that one but having worked for the Government, enforcing anything is a big costs. I know the VA, there are fraudulent claims but they seldom pursue it. Costs exceeds what is being re-couped going after them.  So many stupid laws that make no sense like this "penalty" which does nothing from a financial point. More of a scare tactic to push people into getting coverage. 4951
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donnatella Active Indicator LED Icon 13 Forum Moderator
~ 7 years ago   Jan 21, '17 11:42am  
So many stupid laws that make no sense like this "penalty" which does nothing from a financial point. More of a scare tactic to push people into getting coverage
 
@beastmode: Thankfully no more, at least for this one.
4951
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kingwooddiscgolf Active Indicator LED Icon 13
~ 7 years ago   Jan 21, '17 11:45am  
There is no penalty for not paying it. Only thing that happens is one gets less of a tax refund. If they are not owed a refund then nothing happens. It likely cost more from an IRS standpoint to reduce the refund amount than actually getting the money back. Not sure about that one but having worked for the Government, enforcing anything is a big costs. I know the VA, there are fraudulent claims but they seldom pursue it. Costs exceeds what is being re-couped going after them.  So many stupid laws that make no sense like this "penalty" which does nothing from a financial point. More of a scare tactic to push people into getting coverage.

@beastmode: Self employed and have paid the penalty last two years.  Tax refund LMAO.....
 
 
4951
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beastmode Active Indicator LED Icon 12
~ 7 years ago   Jan 21, '17 11:47am  

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>> There is no penalty for not paying it. Only thing that happens is one gets less of a tax refund. If they are not owed a refund then nothing happens. It likely cost more from an IRS standpoint to reduce the refund amount than actually getting the money back. Not sure about that one but having worked for the Government, enforcing anything is a big costs. I know the VA, there are fraudulent claims but they seldom pursue it. Costs exceeds what is being re-couped going after them.  So many stupid laws that make no sense like this "penalty" which does nothing from a financial point. More of a scare tactic to push people into getting coverage.
 
@beastmode: Self employed and have paid the penalty last two years.  Tax refund LMAO.....
 
 

@kingwooddiscgolf: You should have not paid it. Nothing would have happened unless you were owed a refund. 4951
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ET Active Indicator LED Icon 17
~ 7 years ago   Jan 21, '17 1:28pm  

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>>
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>> There is no penalty for not paying it. Only thing that happens is one gets less of a tax refund. If they are not owed a refund then nothing happens. It likely cost more from an IRS standpoint to reduce the refund amount than actually getting the money back. Not sure about that one but having worked for the Government, enforcing anything is a big costs. I know the VA, there are fraudulent claims but they seldom pursue it. Costs exceeds what is being re-couped going after them.  So many stupid laws that make no sense like this "penalty" which does nothing from a financial point. More of a scare tactic to push people into getting coverage.
 
@beastmode: Self employed and have paid the penalty last two years.  Tax refund LMAO.....
 
 

@kingwooddiscgolf: You should have not paid it. Nothing would have happened unless you were owed a refund.
 
@beastmode:
 
Tax refund is your money too. 4951
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beastmode Active Indicator LED Icon 12
~ 7 years ago   Jan 21, '17 2:17pm  

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>>
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>> There is no penalty for not paying it. Only thing that happens is one gets less of a tax refund. If they are not owed a refund then nothing happens. It likely cost more from an IRS standpoint to reduce the refund amount than actually getting the money back. Not sure about that one but having worked for the Government, enforcing anything is a big costs. I know the VA, there are fraudulent claims but they seldom pursue it. Costs exceeds what is being re-couped going after them.  So many stupid laws that make no sense like this "penalty" which does nothing from a financial point. More of a scare tactic to push people into getting coverage.
 
@beastmode: Self employed and have paid the penalty last two years.  Tax refund LMAO.....
 
 

@kingwooddiscgolf: You should have not paid it. Nothing would have happened unless you were owed a refund.
 
@beastmode:
 
Tax refund is your money too.

@ET: It's not earned income. They are taking from a pot one did not earn. People may be entitled to it legally but they did not earn that money. It's given.    4951
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HollyHobby Active Indicator LED Icon 9
~ 7 years ago   Jan 21, '17 2:38pm  
Was never a Trump fan. Knew little about him. Never watched his show. Had no idea who Melania or Ivanka was up til about 6 months ago.What impresses me was is his freaking energy!!! He's 70 years old and I don't think I could keep up with him. During the campaign, he was hitting 3-4 cities per day and sometimes more! Maybe it's the young wife and 10 yo son, I don't know. Anyway, I think by nature, he's a man of action and I have growing confidence in him. 4951
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HollyHobby Active Indicator LED Icon 9
~ 7 years ago   Jan 21, '17 2:40pm  
Liberal media mocked that by cherry picking this sentence: The order does not offer specifics.I didn't know any better until I read the actual real "news" in your Forbes link:The order does not offer specifics. Rather, the order notes that the President intends to "seek the prompt repeal" of ACA. Pending the appeal, the order directs agency heads to "waive, defer, grant exemptions from, or delay the implementation of any provision or requirement of the Act that would impose a fiscal burden on any State or a cost, fee, tax, penalty, or regulatory burden on individuals, families, healthcare providers, health insurers, patients, recipients of healthcare services, purchasers of health insurance, or makers of medical devices, products, or medications."That language sure sounds latitude for the Internal Revenue Service (IRS) to not enforce the penalty, sometimes called a "shared responsibility payment," and other ACA-related taxes. As currently implemented, ACA requires taxpayers to either have minimum essential health coverage, meet an exemption, or make a shared responsibility payment. 4951
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beastmode Active Indicator LED Icon 12
~ 7 years ago   Jan 21, '17 3:41pm  
The penalty served no purpose other than to frighten people. That fright would help boost enrollment. It's such a small amount of money, not even enough to put a dent in the costs of given over 10 million free health insurance. They can't garnish wages, mess up your credit if one does not pay it. Nothing they can do about it but take tax refund checks. What Trump is doing is removing that fear. That will lower enrollment and eventually kill it.     4951
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