Subject: txt hcare -
That interest-free loan you gave the government all year long will now be used against you, the IRS Commissioner says.
From Reuters:
The Internal Revenue Service could tap individual tax returns to collect fines against people who fail to buy health insurance as required under recently enacted healthcare legislation, the U.S. tax commissioner said on Monday….People who do not comply would be levied penalties, and if they don’t pay them the penalties could be taken out of their tax refunds.
“There has been some insinuation about h0w we are going to approach our job,” IRS Commissioner Douglas Shulman said after speaking at the National Press Club. Under the new law, the IRS cannot seize assets or levy fines, so Shulman said refunds were the most obvious option to collect penalties.
Perhaps you want to consider increasing the number of withholding exemptions you take at work.
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