Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 3, 2009
- Messages
- 9,343
ziggy29 said:This is semantics. It increases your tax liability by the amount of the "penalty." Sure, if you have enough withheld to cover it you're done paying it, but the point is that one way or another you pay it. And it's still a lot cheaper than buying health insurance, so if you are young, healthy and feeling invincible...
I am missing something here, Ziggy, so help me out with it. Now, I am too old to consider not purchasing, but the process itself interests me. If you adjust your withholdings to match exactly what you owe based on your income, or slightly less and pay in a few bucks, how would you ever pay the penalty? I don't mean withhold extra to include the tax, I mean to only cover their income. There is no penalty for not paying the penalty, and the only means of collecting it is withholding refunds, so where is my thinking off or misinterpretation of the coming process?