Major Blow! IRS Wont Enforce This Tax Law On Americans
Category : The Rod Eccles Show
The Trump Administration is moving forward. President Trump has issued a number of Executive Orders that protect the American people in more ways than one.
As the Congress slows and stalls in repealing Obamacare, a recent Trump Executive Order has lead the IRS to state they will not enforce a key part of the health care law.
“The health law’s individual mandate requires everyone to either maintain qualifying health coverage or pay a tax penalty, known as a “shared responsibility payment.” The IRS was set to require filers to indicate whether they had maintained coverage in 2016 or paid the penalty by filling out line 61 on their form 1040s. Alternatively, they could claim exemption from the mandate by filing a form 8965.
For most filers, filling out line 61 would be mandatory. The IRS would not accept 1040s unless the coverage box was checked, or the shared responsibility payment noted, or the exemption form included. Otherwise they would be labeled “silent returns” and rejected.
Instead, however, filling out that line will be optional.”
This would be a huge monkey off the back of many Americans. This is something that could be another nail in the coffin of the Affordable Care Act. Now Americans will not be extorted for over $1000 in many cases, for not having health insurance that meets the minimum standards of the law.
Now if only Congress could get their act together and just repeal the whole law. Then folks wont have to fear the IRS on this matter at all.