re: #47 Anymouse 🌹

Well, unless the GOP rodent copulation of the ACA is reversed by next year, the penalty will be gone (set to zero).

That said, that makes the case going through the courts now (claiming there is no penalty, so there is no tax, therefore the ACA should be struck down because it was upheld on the basis of taxation powers) makes even less sense. There is a penalty now (2.5% of household income, or $695 per person, whichever is higher). It would seem therefore even if it was a valid argument it is currently moot.

Moreover, a tax rate of $0 is still a tax rate.

Until I processed the foreign residence section of the tax forms, I was scheduled to pay that $695 penalty. As a US citizen working and living abroad, I am exempt from the requirements of the ACA, as long as I don’t stay in the USA (or fly over the USA — go figger) for more than 35 days. That last stipulation — flying over US airspace — really gets my goat. IOW I could be flying into Vancouver, BC, but if the plane crosses over AK or WA, that counts as being “in the USA” and I have to report that trip on my tax forms.

And don’t get me started on the whole FATCA and FBAR sitch.