How to Protect Yourself From Obamacare

[RecycleMichael]

Oh. You post gibberish innuendo from idiots and I am the one who needs to be worried about looking bad.

Look in the mirror.

[guido911]

Oh. You post gibberish innuendo from idiots and I am the one who needs to be worried about looking bad.

Look in the mirror.

Jackhole-ness coming into focus.

http://news.investors.com/ibd-editorials-obama-care/032414-694425-matt-drudge-pays-obamacare-liberty-tax.htm

http://usfinancepost.com/media-white-house-attack-on-drudge-show-lack-of-understanding-of-how-small-businesses-operate-15507.html

[RecycleMichael]

I just love your sources. The writer of the article (Jack Minor) you referenced is quite the piece of work. Here is some of headlines of articles he has written recently...

NOW OBAMACARE IS 'SEEING DEAD PEOPLE'

LIBERALS WORST NIGHTMARE ABOUT TO COME TRUE

FRIGHTENING NEW REASON TO FEAR POLICE

GAY LAWS SET STAGE FOR PEDOPHILIA RIGHTS

Forgive me if I want to wait for a little more confirmation than these guys are providing. Go ahead and believe them if you have to.

[guido911]

I just love your sources. The writer of the article (Jack Minor) you referenced is quite the piece of work. Here is some of headlines of articles he has written recently...

NOW OBAMACARE IS 'SEEING DEAD PEOPLE'

LIBERALS WORST NIGHTMARE ABOUT TO COME TRUE

FRIGHTENING NEW REASON TO FEAR POLICE

GAY LAWS SET STAGE FOR PEDOPHILIA RIGHTS

Forgive me if I want to wait for a little more confirmation than these guys are providing. Go ahead and believe them if you have to.

ABC News, The Hill, and Wash Post weighing in...

http://gretawire.foxnewsinsider.com/video/video-matt-drudge-obamacare-and-the-liberty-tax/

[RecycleMichael]

You are quoting Greta Van Susteren?

hahahahahahahahaha

[Hoss]

And of course, Drudge is paying this so-called 'liberty tax' well before the processes for paying the penalty are in place.  He didn't even have to pay it.

Can anyone say 'media attention whore'?

[Conan71]

And of course, Drudge is paying this so-called 'liberty tax' well before the processes for paying the penalty are in place.  He didn't even have to pay it.

Can anyone say 'media attention whore'?

Did you not read the part that the self-employed who are required to pay quarterly taxes for tax year 2014 are starting to pay this with this quarter's remittance?

Otherwise, taxpayers who do not fall into this requirement won't have to pay until next April.

[Hoss]

Did you not read the part that the self-employed who are required to pay quarterly taxes for tax year 2014 are starting to pay this with this quarter's remittance?

Otherwise, taxpayers who do not fall into this requirement won't have to pay until next April.

I didn't say they weren't.  What I am saying, however, is that the process for paying penalties is not yet even completed, and still not a requirement.

Did you not read THAT?

[Red Arrow]

I didn't say they weren't.  What I am saying, however, is that the process for paying penalties is not yet even completed, and still not a requirement.

One of my friends once got into difficulty with the IRS for not anticipating a stock dividend and paying the quarterly estimate of the tax on that dividend before he even got the dividend.  They wanted penalties and interest on top of the tax.  He didn't object to the tax part, just the penalties and interest.

Better to be safe than sorry with the IRS.

[Cats Cats Cats]

"got into difficulty"?  Don't you get your taxes, realize you under paid and if its over a certain amount you pay a penalty?  I would figure your only difficulty is if you didn't do your taxes right and pay the penalty that was owed. 

[nathanm]

One of my friends once got into difficulty with the IRS for not anticipating a stock dividend and paying the quarterly estimate of the tax on that dividend before he even got the dividend.

Your friend should have pointed the IRS at their own rulebook. If you pay at least last year's total tax due in quarterly payments this year you qualify for safe harbor, despite having technically underpaid (tax is due when the income is earned, not on April 15th). It's more complicated if you have both W2 and non-W2 income, since the benchmark is no longer total tax, but the effect is the same. In no case do you owe tax on income that is not yet income. For most people, that means when it is received, but again, things can get more complicated for some people. That does not mean that the IRS won't have questions for you to determine if you paid the tax when due, of course.

[guido911]

You are quoting Greta Van Susteren?

hahahahahahahahaha

Did you not watch the video? ABC News political director, The Hill, and Washington Post people were on it you confirmed jackhole.

[Red Arrow]

Your friend should have pointed the IRS at their own rulebook. If you pay at least last year's total tax due in quarterly payments this year you qualify for safe harbor, despite having technically underpaid (tax is due when the income is earned, not on April 15th). It's more complicated if you have both W2 and non-W2 income, since the benchmark is no longer total tax, but the effect is the same. In no case do you owe tax on income that is not yet income. For most people, that means when it is received, but again, things can get more complicated for some people. That does not mean that the IRS won't have questions for you to determine if you paid the tax when due, of course.

Charlie missed it.  You are close.  I don't remember the details as it happened at least 15 years ago and since my friend has passed away (age 92), I can't ask him.  He was retired at that time and a good portion of his income was from investments.  As such, his income varied from year to year.  This was not an April 15th deal but more like a dividend larger than he expected that he got mid year shortly after a quarterly filing date.  He paid the quarterly payment based on what he thought he was going to get.  I believe he also adjusted his next quarterly payment for the amount that was underpaid.  I think he eventually got it settled but of course dealing with the IRS was less than a pleasant experience. Timing was the issue and as I indicated, he never contested the amount of actual tax.

[Conan71]

As someone who has W-2 income plus pays quarterlies, and is penalty-averse, you pay everything you think you will owe.  I'm not into giving the government interest-free loans and I'm pretty good at not doing that.  As the saying goes amongst tax accountants: "If you are getting $5000 back, you are definitely doing it wrong!"

That said, the ACA penalty isn't something I have to worry about since I have employer-provided insurance, but if I did not, I would be paying my anticipated "penalty" or "liberty tax".

[heironymouspasparagus]

And of course, Drudge is paying this so-called 'liberty tax' well before the processes for paying the penalty are in place.  He didn't even have to pay it.

Can anyone say 'media attention whore'?

That plus just a plain ole liar.  That's what Matt Sludge has always been about.  And there's a lot of Okies who really like that.....