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abe froman
Apparently there's a loophole in this ACA nonsense that no one is talking about. I stumbled across this little gem while following a link posted by another member on a now closed thread. From politifact.com :
[ Members of Congress did not want the penalties for going without insurance to be too strict, so the law specifically states that people who fail to pay the penalty "shall not not be subject to any criminal prosecution or penalty" nor may government officials "file notice of lien with respect to any property" (page 131).]
So KMA dictators of the world you'll get nothing from me,except the finger.
Wrabbit2000
reply to post by abe froman
You're absolutely right! That's the spirit that will change anything too, IMO.
A good % of Congress and those serving high positions are Lawyers by profession. That's why we live in a nation of laws, governed by loophole. Thanks for finding that! I'm doing a big research project on the ACA for something coming up and this will go nicely into that. I'm anxious to dig around where this appears in the text too. Where one nugget drops, often, others can be found within a page or so, either direction.
§ 1.5000A–5 Administration and
procedure.
(a)
In general.
A taxpayer’s liability
for the shared responsibility payment
for a month must be reported on the
taxpayer’s Federal income tax return for
the taxable year that includes the
month. The period of limitations for
assessing the shared responsibility
payment is the same as that prescribed
by section 6501 for the taxable year to
which the Federal income tax return on
which the shared responsibility
payment is to be reported relates. The
shared responsibility payment is
payable upon notice and demand by the
Secretary, and except as provided in
paragraph (b) of this section, is assessed
and collected in the same manner as an
assessable penalty under subchapter B
of chapter 68 of the Internal Revenue
Code. The shared responsibility
payment is not subject to deficiency
procedures of subchapter B of chapter
63 of the Internal Revenue Code.
Interest on this payment accrues in
accordance with the rules in section
6601.
(b)
Special rules.
Notwithstanding any
other provision of law—
(1)
Waiver of criminal penalties.
In
the case of a failure by a taxpayer to
timely pay the shared responsibility
payment, the taxpayer is not subject to
criminal prosecution or penalty for the
failure.
(2)
Limitations on liens and levies.
If
a taxpayer fails to pay the shared
responsibility payment imposed by this
section and §§ 1.5000A–1 through
1.5000A–4, the Secretary will not file
notice of lien on any property of the
taxpayer, or levy on any property of the
taxpayer for the failure.
(3)
Authority to offset against
overpayment.
Nothing in this section
prohibits the Secretary from offsetting
any liability for the shared
responsibility payment against any
overpayment due the taxpayer, in
accordance with section 6402(a) and its
corresponding regulations.
(c)
Effective/applicability date.
This
section and §§ 1.5000A–1 through
1.5000A–4 apply for months beginning
after December 31, 2013