The goal of this blog is to put tax information in an easier to understand format for US Taxpayers. Please verify all advice with that of a Tax expert or the IRS.
~Due Diligence Only~
U.S. Taxpayers are frequently being given erroneous or completely untrue information regarding the Affordable Care Act (ObamaCare), and taxes.
As of March 31, 2014, taxpayers who lived in States with expanded Medicaid were required to have insurance, or register for Health Care.
It is sad and unfortunate that in many of the States, even where Medicaid was expanded, there are daily untruths, and propaganda being aired on News Stations, and Newspapers. Most of this is being paid for by Teabagger GOP, and propagated by Republicans who continue to act as if they lie long enough, it will become everyone's truth.
Come tax time, 2015 - when the filing for 2014 tax returns, the individuals and families who are going to get a rude awakening, will not have their GOP representatives to pay their fines for not complying with the law. It is my personal opinion (not shared by my employer or any other party in my area), that those who continue to lie, who are causing Americans to pass up benefits that they are entitled to, should be sued in a very large way. It is criminal enterprise, to brainwash people to give up those things that are in their best interest.
For those who are wanting to get to the fact of the matter, the IRS has several links to help taxpayers sort it out. There is a whole page dedicated to the ACA (ObamaCare) Tax Rules and Instructions at http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions-Home another shorter resource is the IRS-pdf p5093 http://www.irs.gov/pub/irs-pdf/p5093.pdf. Some Good News for those who may have missed Open Enrollment due to any number of reasons, if you have had a "Change of Life" Experience, ie; Lost a Job, Got Married, Widowed, Increase or decrease in income, you will be allowed to Enroll in the ACA plan(s) available in your State. [If that State expanded Medicaid]. Here is the link to the Health Insurance Market Place: https://www.healthcare.gov/ The thing I will never understand about the TeaBagger movement is how billionaires convinced basically poverty ridden populations to be activists for them??????? This is what I consider shooting off your nose to spite your face. It doesn't make sense, and it is a no win situation. Please enroll for Healthcare if you have not, and you are able to enroll due to changes in circumstances. Don't get your tax information from the News Media. Go to the I.R.S. website or an Enrolled Agent or higher for real tax advice.
The Affordable Care Act (ACA), touted as ObamaCare, has made drastic changes to our Tax Law. If this were FoxTV, there would be a bunch of misinformation to follow. The only reason I am even speaking of it, is because of how many people they have caused to deny themselves HealthCare and Insurance. Healthcare includes Dental and Eyewear.
Now many Americans are experiencing the Health, and peace of mind in having Insurance. For some, this is the first time people in the U.S. have had Health Insurance. Many Americans are not able to enjoy the relief of being able to use Preventative Care, be healthier, and lead more productive lives. That is sad. One of the notes of propaganda that was spread like Oleo through the Southern States of North America was that Insurance Rates would go through the roof. It led to direct mis-understanding about the AFFORDABLE part.
Enrolled members should know, this was not meant to be a noose of tax liability to the taxpayer, this ACT was created to make healthcare affordable for all. Mitt Romney worked on the same plan for his own State, and helped write the ACA, as well as many who seem to be trying to destroy it, and the people it represents now.(?)
There are changes that can affect the Premium Tax Credit, many Americans who Enrolled will receive, to help Pay their Premiums. If you get too much, you will owe money at the end of the year, if your circumstances have changed to where it would affect your "enrolled ability to pay, and need," by turning in a CHANGE REPORT (http://www.irs.gov/pub/irs-pdf/p5152.pdf) What Changes?
Premium Tax Credit - Help Purchasing Insurance through the Market Place
For those who declined enrollment, because they heard inflated numbers of premiums they would be responsible to pay should be given relief. They were unable to seek understanding of the ACA (Obamacare), because they were led to believe by their State, Federal Representatives, and GOP entrenched media; untruths which continue today.
I love to play Words of Wonder(TMDisney), but the ad I must watch to play for free, is often a middle aged couple from Arkansas saying things about AHA, that is not true, period. That entrenching of misquotes, and outright lies, have caused Americans to either refuse, or dread one of the best things that has happened to our country for decades.
Personally, I now have Blue Cross, Blue Shield. My premiums would be almost $200.00 if I had to pay the whole thing, but my portion is very low, and I can afford it. I really am not sure how to use it, I am pretty healthy, and don't intend to become a pharmaceutical lab rat in my last days, so I shouldn't cost the taxpayers much. Most of my working life has been uninsured, or insurance too expensive to use. Oh, I am a taxpayer, and my blogs have not hit the big time yet, so I eke by on under $9,000.00 per year. I am lucky to be working in a job I love, it just doesn't pay a living wage. Having insurance, is just that. A net, should we slip from the perilous heights of "highwire fiscal survival", that most of us tip-toe across daily.
Now, hopefully you have stopped being mad about the Fox crack, it honestly is not about politics, but about taxes. Unfortunately, what is happening in the media, driven by industrialists, is affecting the Tax Law, and not in the favor of the middle class and below. It is my goal to show some true information, and hand the reader resources they can check out for themselves. **For real information about the Premium Tax Credit, in English, and Spanish, with YouTube Videos Here is the Link: http://www.irs.gov/uac/The-Premium-Tax-Credit
I think there should be a respite for the many who have been so misinformed. It is hard to believe that people are allowed to get on television, call themselves "representatives," news stations that aren't news at all, merely entertainment. Since this is being done by the very people who were elected to serve THEM, it is my opinion that type of deception should be considered criminal. If I lied, and schemed, to the point of throwing my arm over someone else's Jesus, to cause someone to deny something they were due, I think that it may be a crime. Really. There is a little respite for those who have had a life changing event, called a "Qualifying Life Event," if they did not enroll during Open Enrollment, they may be eligible to enroll. Here is the link to that page. https://www.healthcare.gov/glossary/qualifying-life-event/
This blog post goes out to fellow citizens living under the U.S. Tax Code.
March 31st 2014 - Open Enrollment Ends
Something that I have always appreciated about taxes is that anyone can argue about Democrats and Republicans, greed, sexual orientation, minimum wage, Benghazi and the Keystone Pipeline, but it is tax law changes from year to year that tell the true story of what is going on in Washington D.C. I love knowing tax law and code changes, because those are historic registers for what each Executive Branch, Judicial Branch and Legislative Branch allowed or made happen during their own tenures in office. There are not many people I know who have followed the tax laws for more than forty years, but all of us can attest to what has occurred and how over the last thirty years, the middle class has been overwhelmed with the burden of our fair and equitable system. Just like the Holy Roman Empire (I still hear the repeated phrase of my World History professor; 'It was not Holy, It was not Roman, and it was not an Empire.") America was only a fair and equitable system for a miniscule period of time. As soon as Europeans made landfall in America, there was a systematic program of genocide and the grabbing of all resources by a handful of people. There have been years that have been good to the Middle Class tax-wise, but since the creation of the Alternative Minimum Tax (I have argued and fussed for its repeal for decades...), the Middle Class has been doomed. It was during that time that Presidents and Congress empowered the rights of Corporate Welfare over that of living breathing human beings. The Affordable Care Act termed by everyone as "ObamaCare" was a project/law in the making for quite a few years. Because of all the political wrangling it has turned into a Clown-Car Circus of confusion and misinformation. For the purpose of this blog post, my political opinion is Switzerland. Not political, but what the tax law changes and ACA have to do with U.S. Taxpayers, and the importance of getting good information and assistance before it is too late. The following are links to "The Affordable Care Act" - IRS website.http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions-Home
If you follow the above link to the IRS Website, you can go to the Healthcare.gov link from there or I have copied the link here: HealthCare.gov
Open Enrollment for the Health Insurance Marketplace: The open enrollment period to purchase health care coverage through the Health Insurance Marketplace for 2014 began Oct. 1, 2013 and runs through March 31, 2014. When you get health insurance through the marketplace, you may be able to get advance payments of the premium tax credit that will immediately help lower your monthly premium. Learn more at HealthCare.gov.
Premium Tax Credit: If you get insurance through the Marketplace, you may be eligible to claim the premium tax credit. You can elect to have advance payments of the tax credit sent directly to your insurer during 2014, or wait to claim the credit when you file your tax return in 2015. If you choose to have advance payments sent to your insurer, you will have to reconcile the payments on your 2014 tax return, which will be filed in 2015. If you’re already receiving advance payments of the credit, you need do nothing at this time unless you have a change in circumstance. Learn More.
Change in Circumstances: If you're receiving advance payments of the premium tax credit to help pay for your insurance coverage, you should report life changes, such as income, marital status or family size changes, to your marketplace. Reporting changes will help to make sure you are getting the proper amount of advance payments.
Individual Shared Responsibility Payment: Starting January 2014, you and your family must have health care coverage, have an exemption from coverage, or make a payment when you file your 2014 tax return in 2015. Most people already have qualifying health care coverage and will not need to do anything more than maintain that coverage throughout 2014. Learn More.
Depending on where you live, you may be getting very bad, disjointed or terrible information regarding the Affordable Care Act. That information can cost you big at tax time and this is why I am joining with the IRS and Healthcare.gov to beg you to find out the facts about ACA before you make an expensive mistake based on the lies of politicians and actors. State Health Departments across the U.S., where the State did accept the Medicaid Expansion have received funding and JOBS to help citizens get information, and all of the help they need to enroll.
