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Otherwise, they were required to pay the individual shared responsibility payment as a fine. [2] [3] It was one of the many Affordable Care Act tax provisions. The federal tax penalty for violating the mandate was eliminated by the Tax Cuts and Jobs Act of 2017, starting in 2019. [4]
In 2014 the payment amount was 1% of income or $95 per adult ($47.50 per child) limited to a family maximum of $285 (national average premium for a bronze plan), whichever is greater. [4] In 2015 the penalty increased to $285 per adult or 2% of income above the limit. [5]
Under the individual mandate provision (sometimes called a "shared responsibility requirement" or "mandatory minimum coverage requirement" [79]), individuals who are not covered by an acceptable health insurance policy will be charged an annual tax penalty of $95, or up to 1% of income over the filing minimum, [80] whichever is greater; this ...
Taxpayers with incomes over $150,000 must ensure their withholding and estimated tax payments cover at least 90% of their current tax year liability or 110% of their prior-year tax liability to ...
Under the individual mandate provision (sometimes called a "shared responsibility requirement" or "mandatory minimum coverage requirement"), [28] individuals who are not covered by an acceptable health insurance policy will be charged an annual tax penalty of $95, or up to 1% of income over the filing minimum, [29] whichever is greater; this ...
Californians pay the highest marginal state income tax rate in the country -- 13.3%, according to Tax Foundation data. But California has a graduated tax rate, which means your rate increases with...
Applications were open to California residents 18 years and older with an annual household income at or below 300% of the federal poverty level. For example, a single-person household would have ...
The individual mandate was felt to resonate with conservative principles of individual responsibility, and conservative groups recognized that the healthcare market was unique. In 1993, President Bill Clinton proposed a health care reform bill which included a mandate for employers to provide health insurance to all employees through a ...
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