re: #305 JacksonTn

WLN … right but what about people who do not have the money to pay the tax? … please see my other posts in this thread … I am wondering what is the end penalty after all others have been exhausted …

Well, since section 59B amends the IRS code, I suspect the penalties would be the same as not paying taxes.

Your tax liability is 2.5 percent…

‘‘(a) TAX IMPOSED.—In the case of any individual
21 who does not meet the requirements of subsection (d) at
22 any time during the taxable year, there is hereby imposed
23 a tax equal to 2.5 percent of the excess of—
1 ‘‘(1) the taxpayer’s modified adjusted gross in2
come for the taxable year, over
3 ‘‘(2) the amount of gross income specified in
4 section 6012(a)(1) with respect to the taxpayer.