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Obamacare

Discussion in 'Off-Topic Forum' started by redneck, Sep 30, 2013.

  1. john reynolds

    john reynolds DI Forum Adept

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    You're right about Rubio. He's the Best choice out there from either party if You ask Me. I've heard Him speak on Numerous occasions and he's a likable Guy and very well spoken. And like You said, He's the only chance the Republicans have. Plus with Rubio comes all the Latino Votes, and that right there says a great deal especially when trying to win votes in California, New York, Florida and all the other States with a High Hispanic population.......Have no idea who he would pick as a running mate though.. I could think of a few, but I won't mention them here....Cheers
     
  2. Larry_H

    Larry_H DI Member

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    Found this for those wondering if they qualify for an exemption and how to get one...

    https://www.healthcare.gov/exemptions/

    Exemptions from the payment
    Under certain circumstances, you won’t have to make the individual responsibility payment. This is called an “exemption.”

    You may qualify for an exemption if:

    You don’t have to file a tax return because your income is too low (Learn about the filing limit.)

    You’re not lawfully present in the U.S.


    How to apply for an exemption

    If your income will be low enough that you will not be required to file taxes:

    You don’t need to apply for an exemption. This is true even if you file a return in order to get a refund of money withheld from your paycheck. You won’t have to make the shared responsibility payment.

    If you have a gap in coverage of less than 3 months, or you are not lawfully present in the U.S.:

    You don’t need to apply for an exemption. This will be handled when you file your taxes.
    --------------------------------------------------------------------------------------------------------------------------------
    So, if your sole income is SS, then you don't need to file taxes and you are automatically exempt.

    If you put a foreign address on your tax return, you are automatically exempt.

    If you ignore them, they will ignore you...provided there is no incoming data proving a qualifying income level.
     
  3. Knowdafish

    Knowdafish DI Forum Luminary

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    If you do not reside in the U.S. for 11 months or longer out of a calendar year you are exempt.

    Perfect! :smile:
     
  4. Sailor24

    Sailor24 DI Member Showcase Reviewer

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  5. Larry_H

    Larry_H DI Member

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    Thanks correct.

    The filing requirement for American citizens for FBAR is if you have a bank account in a foreign country (or multiple accounts single or joint) and the account balance of any or all totaled accounts is $10,000 or higher at any time during the year. If you have a joint account, both you and your wife must sign of FBAR (even though she is not a USC). If you file electronically, the system only allows for one signature, so you both must file separately.

    The requirement for filing with the IRS is explained in this chart (IRS.gov)

    Filing Status Minimum Gross Income (under 65) Minimum Gross Income (65+)
    Single $9,800 $11,250
    Head of Household $12,550 $14,000
    Married Filing Jointly $19,550 $20,700 (one spouse) $21,850 (both spouses)
    Married Filing Separately $3,850 $3,850
    Widow with Dependent Child $15,750 $16,900

    However, there is an exception to this rule if half of your social security benefits plus your other gross income is more than $25,000 ($32,000 if married filing jointly).

    Basically, if you are collecting SS and that is your sole source of income, you don't need to file anything with anybody as long as you don't have a savings account that has accumulated $10,000 or more.
     
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