Obamacare Taxes being collected Now!

[DrLeftover]

Emphasis added

Drudge indicated in his followup tweets that since he is self-employed as the proprietor of The Drudge Report, he files as a small business. According to the IRS’s website for self-employed individuals, they are required to pay taxes quarterly.

“As a self-employed individual, generally you are required to file an annual return and pay estimated tax quarterly,” the IRS website reads.

So, when they file and pay those 2014 first quarter taxes, such individuals have to pay the Obamacare Individual Mandate tax if they opted to not have health insurance—like Drudge just did.

Additionally, the IRS form (1040-ES) for estimating quarterly taxes specifically recommends adding the mandate penalty to line 12 for "other taxes" -- to pay before the first quarterly deadline of April 15.

“It is true that thousands of small businesses will be forced to pay Obamacare taxes quarterly in 2014,” a Senate Budget Committee aide told Breitbart News on Friday afternoon.

http://www.breitbart.com/Big-Government/2014/03/21/White-House-Leads-Liberal-Media-In-Matt-Drudge-Attack

 

[WHO IS SERAFIN]

My wife handles all the financial stuff in our business. She probably hasn't mentioned this to me so I dont have a out of control anger fit. We have the tea party but we start a movement on getting millions of Americans together to not pay our taxes. It would then be worth the risk of losing everything I worked for to stand up to this tyranny.

 

[DrLeftover]

We may have to file that way next year, but for now. We're OK.

 

[DrLeftover]

March 24, 2014
The Profound Arrogant Ignorance and Stupidity of Liberals in Charge

...

In case you missed it, Drudge tweeted, “Just paid the Obamacare penalty for not 'getting covered'... I'M CALLING IT A LIBERTY TAX” shortly after filing his first quarterly installment for 2014 as a self-employed person. Apparently unaware of how self-employed people pay taxes – which is neither new nor a secret – liberals at the White House, Talking Points Memo, the Huffington Post, and the National Journal all responded immediately by calling Drudge either a liar or ignorant, or both. After all, the liberal reasoning went, Drudge could not possibly have paid a cent toward his 2014 ObamaCare "penalty" because it's not 2015 yet.

Yes, these wizards who would organize everything and everyone lack even a cursory familiarity with the most basic of tax realities.

What is it Bill Engvall says? Oh yeah: “Here’s your sign.” These liberals really didn’t need Engvall’s sign at all. They tweeted their own "I’m stupid" signs. Some wrote full-fledged low-information articles, including TPM’s Dylan Scott and the HuffPo’s Jeffrey Young.

In none of these attacks on Drudge did it occur to these media maestros how self-employed people are impacted by the tax ramifications of ObamaCare. If Drudge figures he’ll owe, say, ten million in federal income taxes for 2014 (it’s probably a lot more), he is required to send in a quarter of that now. He would also be compelled to include charming little IRS add-ons in his payment, like the ObamaCare penalty. Or is it a fee? A tax, maybe? Whatever John Roberts decided to call it, Drudge and other self-employed quarterly filers have indeed started paying it.

This is not some esoteric detail, nor is it overly technical – it is a fact of life that all self-employed people have had to deal with for many decades. And not just the wealthy like Drudge or Rush Limbaugh – quarterly installments impact little shop proprietors and tiny contractors as well. Welcome to the Main Street problems caused by applied liberal policies varnished by isolated but powerful interests on K Street and Wall Street. And yet, liberals who are highly paid to comment on such things know nothing about it. Neither do Obama administration hacks who helped ram this absurdity through Congress.

http://www.americanthinker.com/2014/03/the_profound_arrogant_ignorance_and_stupidity_of_liberals_in_charge.html