Here's What ObamaCare's Individual Mandate Tax Form Could Look Like
Barring repeal, ObamaCare's individual mandate will kick into effect in 2014. Under the provision, judged legal as a tax by the Supreme Court earlier this year, anyone who doesn't maintain qualifying health insurance will eventually have to pay of penalty of between $695 and $2085, an amount that will grow over time and depend on family size. And those who pay it will do so via their annual tax returns.
The folks at Americans for Tax Reform have mocked up a version of the tax form over at ObamaCareTaxForm.com. The eventual form published by the Internal Revenue Service will, of course, look different. But what's instructive about this one is that it highlights some of the information those who fill it out will have to provide. For example, ObamaCare requires that individuals maintain coverage for each month of the tax year in order to fully avoid the penalty, as well as information about their own insurance provider and, if different, their spouse's.
And while it doesn't appear on the form, ATR also notes that the mandate will be subject to the usual IRS penalties and interests if not paid. "Because the Affordable Care Act's individual mandate penalty is a tax, the IRS will be able to assess interest and non-criminal penalties on those families who will not or cannot pay the tax."
You can see ATR's form after the jump.
