01040-ES – Do I have to pay 25% Obamacare Individual Mandate tax penalty?
Paul,
I have to do send in my first quarter 2014 estimated taxes. With Barry O changing the rules every damn day, should I prepay 25% of my estimated Obamacare Individual Mandate tax penalty for not having health care insurance?
I went to the IRS website and it reads:
“As a self-employed individual, generally you are required to file an annual return and pay estimated tax quarterly.”
Additionally, the IRS form (1040-ES) for estimating quarterly taxes specifically recommends adding the mandate penalty to line 12 for “other taxes” — to pay before the first quarterly deadline of April 15.
1 Answer
The white house and all the other white house defenders collectively yelled at Matt Drudge for paying his estimated QTR1 tax penalty as Matt opted out. The current administration is comprised of staff who have never had a real job, nor, apparently ever run a small business. They reamed Matt in the press as jumping the gun saying: “it’s not due until 2015, you idiot bomb thrower.”
The ass clowns that occupy the white house are wrong. Your tax penalty payment is due and payable, by law, if you opt out of approved health care coverage. Of course, on your 2014 tax return you can attach the new individual mandate WAIVER that the same white house said is available to all Americans who experienced any type of issues in signing up or feel that the new premiums are too expensive.
Here is an interesting article about Matt Drudge being reamed a new one by the very people doing the reaming. Article HERE
