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Old July 5th, 2012, 04:20 PM   #80
Join Date: 07-21-08
Location: Lansing, MI
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Originally Posted by phittie1100 View Post
There is an interesting tax side to the SCOTUS decision. I heard one of the talking heads mention it within the first hour of the decision, but then nothing more until today from one of the services we subscribe to here at the office:

<<Under Code Sec. 5000A(g), the penalty for failing to carry health insurance “shall be paid upon notice and demand by the Secretary, and...shall be assessed and collected in the same manner as an assessable penalty” under Code Sec. 6671 through Code Sec. 6725. IRS will not be permitted to (i) file a notice of lien with respect to any property of a taxpayer by reason of any failure to pay the penalty, or (ii) levy on any property of a taxpayer with respect to such a failure. (Code Sec. 5000A(g)(2)(B)) However, the authority to offset refunds or credits is not so limited. >>

They can tax/penalize you for not having insurance, but under the current law they have very few enforcement options. If you skip paying the IRS your annual income tax bill, they can get it from your employer as a garnishment, assess liens against your property, levy your bank account etc - they will get it unless you are the pizza delivery guy with no traceable income or assets. If you get assessed the "no insurance" tax/penalty, IRS can send you mean letters, withhold your refund or offset any tax credits, but they can't come get it. So how much power do they really have to enforce it?
None. And thats by design. Its to keep the 51% dumb and to allow them to stay on the tit.
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