Tag: IRS

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IRS Warns: Obamacare Tax Must Be Paid with Tax Return

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IRS Warns: Obamacare Tax Must Be Paid with Tax Return

Agency employs Orwellian term “Shared Responsibility Payment” to describe Obamacare individual mandate tax.

President Obama’s Internal Revenue Service today quietly released a series of Obamacare “Health Care Tax Tips” warning Americans that they must obtain “qualifying” health insurance – as defined by the federal government – or face a “shared responsibility payment” when filing their tax returns in 2015. The term “shared responsibility payment” refers to the Obamacare individual mandate tax, one of at least seven tax hikes in the healthcare law that directly hit families making less than $250,000 per year.

In “Four Tax Facts about the Health Care Law for Individuals” the agency writes:

Your 2014 tax return will ask if you had insurance coverage or qualified for an exemption.  If not, you may owe a shared responsibility payment when you file in 2015.

In “The Individual Shared Responsibility Payment- An Overview” the agency warns Americans they must prove they were covered each and every month of the year:

For any month in 2014 that you or any of your dependents don’t maintain coverage and don’t qualify for an exemption, you will need to make an individual shared responsibility payment with your 2014 tax return filed in 2015.

In “IRS Reminds Individuals of Health Care Choices for 2014”the agency details the calculations Americans can look forward to if they are liable for the tax:

If you (or any of your dependents) do not maintain coverage and do not qualify for an exemption, you will need to make an individual shared responsibility payment with your return. In general, the payment amount is either a percentage of your household income or a flat dollar amount, whichever is greater. You will owe 1/12th of the annual payment for each month you (or your dependents) do not have coverage and are not exempt. The annual payment amount for 2014 is the greater of:

1 percent of your household income that is above the tax return filing threshold for your filing status, such as Married Filing Jointly or single, or
Your family’s flat dollar amount, which is $95 per adult and $47.50 per child, limited to a maximum of $285.

As confirmed by previous  IRS testimony to the tax-writing House Committee on Ways and Means, “taxpayers will file their tax returns reporting their health insurance coverage, and/or making a payment”.

Once fully phased in, the Obamacare individual mandate tax will rise steeply, to a maximum of 2.5 percent of Adjusted Gross Income or $2,085 – whichever is higher

Read more: https://atr.org/irs-warns-obamacare-tax-must-paid-a8164#ixzz2uQCUxug5
Follow us: @taxreformer on Twitter

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Email: IRS’s Lerner, Treasury Department secretly drafted new rules to restrict nonprofits

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Email: IRS’s Lerner, Treasury Department secretly drafted new rules to restrict nonprofits

The Obama administration’s Treasury Department and former IRS official Lois Lerner conspired to draft new 501(c)(4) regulations to restrict the activity of conservative groups in a way that would not be disclosed publicly, according to the House Committee on Ways and Means.

The Treasury Department and Lerner started devising the new rules “off-plan,” meaning that their plans would not be published on the public schedule. They planned the new rules in 2012, while the IRS targeting of conservative groups was in full swing, and not after the scandal broke in order to clarify regulations as the administration has suggested.

The rules place would place much more stringent controls on what would be considered political activity by the IRS, effectively limiting the standard practices of a wide array of non-profit groups.

Read more: https://dailycaller.com/2014/02/05/email-irss-lerner-treasury-department-secretly-drafted-new-rules-to-restrict-nonprofits/#ixzz2sUvhR9eR

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Mitch McConnell: Obama, IRS Fight to Keep Conservative Nonprofits from Forming

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Mitch McConnell: Obama, IRS Fight to Keep Conservative Nonprofits from Forming

by Sen. Mitch McConnell (R-KY) 30 Jan 2014 406 post a comment

James Madison had it exactly right.

Referring to infringements on our freedoms, the Father of the Bill of Rights once wrote that such encroachments were more often “gradual and silent” than “violent and sudden.”

That’s exactly what we’re seeing with President Obama’s proposed regulation on so-called 501(c)(4) groups: a stealth attempt to stifle the ability of ordinary Americans to participate in the political process.

The administration’s proposal, quietly floated over Thanksgiving, is just the latest in a long line of attempts to skirt the Supreme Court’s 2010 ruling in Citizens United, which basically said that businesses and independent groups have the same right to free speech under the First Amendment as anybody else.

https://www.breitbart.com/Big-Government/2014/01/30/Exclusive-Mitch-McConnell-Obama-Attempts-to-Prevent-Conservative-Nonprofits-from-Forming

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Leaning Right in Hollywood, Under a Lens

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Leaning Right in Hollywood, Under a Lens
By MICHAEL CIEPLY and NICHOLAS CONFESSOREJAN. 22, 2014

LOS ANGELES — In a famously left-leaning Hollywood, where Democratic fund-raisers fill the social calendar, Friends of Abe stands out as a conservative group that bucks the prevailing political winds.

A collection of perhaps 1,500 right-leaning players in the entertainment industry, Friends of Abe keeps a low profile and fiercely protects its membership list, to avoid what it presumes would result in a sort of 21st-century blacklist, albeit on the other side of the partisan spectrum.

Now the Internal Revenue Service is reviewing the group’s activities in connection with its application for tax-exempt status. Last week, federal tax authorities presented the group with a 10-point request for detailed information about its meetings with politicians like Paul D. Ryan, Thaddeus McCotter and Herman Cain, among other matters, according to people briefed on the inquiry.

The people spoke on the condition of anonymity because of the organization’s confidentiality strictures, and to avoid complicating discussions with the I.R.S.

https://www.nytimes.com/2014/01/23/us/politics/leaning-right-in-hollywood-under-a-lens.html?_r=0