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IRS Obama Care Tax Penalty Calculations Are In 
Shared Responsibility Payment for Not Maintaining Minimum Essential Coverage


Examples of calculated tax penalties are now shown on the IRS website: Click Here --The tax is called a "Shared Responsibility Payment" and is figured off of a household income, the number of people in the household, and by a national average health care coverage cost for the size of a household. 

Note: Some people are confusing the national average health care coverage cost in an IRS example as an Obama Care plan price. Currently Obama Care does not have plans or prices of plans. It is using national plan prices to figure out the amount of IRS tax penalties that uncovered households will have to pay.

Below is info from example three that is on page seventy on the IRS page:  

One particular example speaks of a family of five that is NOT covered by a health care plan. The IRS takes an estimated national average cost of health care plans for a particular year, refers to such as a bronze plan, and comes up with an average cost of $20,000 for a family of five. It is not saying Obama Care has such a plan. It is saying in this example, $20,000 is the cost of an average health care plan for a family of five, with or without an employer contribution to the plan.

The IRS then calculates to find the penalty that this household will pay for NOT having health care coverage, based on a household income of $120,000, a household size of five people, and a national average cost of $20,000 for a family of five. The end result in this example is $200 a month, which is a $2,400 IRS tax penalty for that year.
          

Debra J.M. Smith 02-01-13
www.InformingChristians.com  


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 Debra J.M. Smith
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