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Politics : Politics for Pros- moderated
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To: Elroy who wrote (519924)11/7/2012 3:47:58 AM
From: LindyBill   of 793883
 
I have read that in 2016, when the penalty is fully phased in, it will be $695 for an individual (up to $2,085 per family) or 2.5 percent of household income, whichever is greater. The penalty will increase annually based on the cost of living.

Ordinarily, the penalty would be treated as a tax, and you could be prosecuted for income tax evasion if you didn’t pay it. But the new health law explicitly says that there will be no criminal sanctions for failing to pay the penalty, and no liens or levies on your property, said Timothy Jost, a law professor at Washington and Lee University. The government could come after your tax refund to pay the penalty, but if you don’t get a refund, that won’t be an option.

I suspect living overseas will keep you from having to pay.
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