Comment

What Would You Ask About Health Care?

344
debutaunt8/11/2009 4:42:48 pm PDT

re: #320 Walter L. Newton

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.

This is another plot to force us all to hire CPA’s to figure out how big a devil is hidden in there.