Taxes levied for not enrolling in Obamacare
I believe that your readers would like to know what the true taxes imposed by the Affordable Care Act (Obamacare) for not enrolling in a government approved health insurance plan will be.
The following covers the tax years commencing 2014, followed by 2015, 2016 and beyond yearly:
Tax year 2014 -- $95 per adult, $47.50 per child, up to $285 per family, or 1 percent of family income -- whichever is greater; Tax year 2015 -- $325 per adult, $162.50 per child, up to $975 per family or 2 percent of family income -- whichever is greater; Tax year 2016 and beyond -- yearly $695 per adult, $347.50 per child, up to $2,085 per family or 2.5 percent of family income -- whichever is greater.
Family income is defined as total income in excess of the filing threshold: $10,000 for an individual and $25,000 for a family.
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