‘LIBERTY TAX’: WHITE HOUSE, MEDIA ATTACK AFTER DRUDGE PAYS OBAMACARE OPT-OUT PENALTY

Now the leftist have their panties in a twist as Matt Drudge tweeted about paying the Obamacare "opt out" tax (he is calling it a Liberty Tax). The Leftist jumped all over him claiming the opt out tax does not take effect until next year. However, Drudge files as a small business and does indeed have to pay this penalty tax this year.

As usual, the left has their facts wrong

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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.

Drudge even indicated as much in followup tweets, but the left-wing reporters—and the White House—have left their criticisms of him intact.

“Dazed team Obama media reporters think Opt-Out tax 'year away’?” Drudge tweeted. “Not for small businesses that file Qtr estimates. We're there NOW, baby #pay.”


[link to www.breitbart.com]

Last Edited by No Dhimmi on 03/22/2014 11:52 AM