Patriots, no longer do you have to fear losing your home if you get sick or injured, just because liberals put Obamacare costs on you and made it too expensive for you to afford.
In response to the hard line President Donald Trump has already taken on Obamacare reform, the IRS has taken a decidedly more relaxed approach to one very important line on tax forms — Line 61, the insurance coverage requirement box.
The insurance requirement is referred to as the “shared responsibility payment” (which just screams of socialism, doesn’t it?) on tax forms. The only way to avoid paying the fine if you don’t have insurance is by filing out IRS form 8965 and requesting a hardship exemption.
Prior to Trump taking office, your tax return would have been rejected, but that will no longer be the case. In anticipation of its appeal, the IRS will now process those returns.This is definite sign Obamacare’s shelf life is about to expire.
“The recent executive order directed federal agencies to exercise authority and discretion available to them to reduce potential burden,” the IRS said in a statement to Reason. “Consistent with that, the IRS has decided to make changes that would continue to allow electronic and paper returns to be accepted for processing in instances where a taxpayer doesn’t indicate their coverage status.”
This effectively makes telling the federal government about your insurance status voluntary instead of mandatory. Why would anyone willingly ask the IRS to fine them?
For most 1040 filers, filling out line 61 would be mandatory. Before President Trump took office, the IRS would label forms without the box checked or a letter of exemption included “silent returns” and automatically reject them.
One of the many lies Barack Obama told when promoting his so-called Affordable Care Act involved the levying of fines. The former president said only Americans expecting a return would have fine money withheld — that is not how the law was actually applied!
Taking the fine can actually be far less expensive than having Obamacare — so many Americans took this option. Now, if the IRS isn’t even going to actively pursue the fines, there is even less of a reason to put your name on an Obamacare policy.
The Obamacare reporting fine mandate is still on the books, but thanks to our president, it is now weakened to the point of futility. Without the millions of middle class Americans buying overpriced policies to pay for the subsidized policies of others, Obama’s signature piece of legislation will soon be crushed under its own weight.
There is no financial incentive to pay $1,000 or more a month and have a $12,500 deductible if the policy doesn’t cover anything to begin with. Many rural middle class and working class Americans across the country paid more for their monthly insurance premium than they did for their house payment.