Tax conferring today … Not fun but necessary. This paragraph that follows needs emphasis, as if affects everyone:
You will receive a notice from the IRS stating that you owe the penalty (for failure to have health insurance). The IRS can collect the money by reducing the amount of any tax refund that you are owed in the future. But the law says that you will not be subject to criminal prosecution and the government cannot file a notice of lien or file a levy on your property.
Got that? They went off the rails. The health insurance industry wrote and passed ACA, mandating that we purchase products from private companies. They must have assumed that a penalty on a private mandate would be unconstitutional, if not the mandate itself. But AHIP was insistent. So they wrote a penalty and made it unenforceable.
I expect this to change, as the mullahs in black robes ruled that the mandate is a tax. But for the time being, if you are penalized for failure to have insurance and are not owed a refund, tell IRS to f*** off. It’s rare we can do that.