Ouch! Matt Drudge slams media - produces IRS "liberty tax" form

[rangerrebew]

Ouch! Matt Drudge Slams Media – Produces IRS “Liberty Tax” Form

Posted by Jim Hoft on Sunday, March 23, 2014, 3:05 PM

The liberal Obama-media piled on Matt Drudge this weekend after he tweeted out that he paid his Obamacare “Liberty” tax.
The Washington Times reported:


Left leaning media outlets criticized Internet news mogul Matt Drudge’s tweets on Friday, but the backlash stemmed from a misunderstanding of how Obamacare will affect small businesses.

On Friday, Matt DrudgeDRUDGE/status/447057404568424448” target=”_blank”>tweeted, “Just paid the Obamacare penalty for not ‘getting covered’… I’M CALLING IT A LIBERTY TAX!”

A few minutes later, Jason Lee, the Director of Progressive Media at the White House, tweeted a response, saying Mr. Drudge’s tweet was a, “flat lie, no fee for previous year. Scary how much influence he once had.”

From there, the tweets came rolling in, attacking Mr. Drudge via social media and liberal news outlets, Breitbart reported.

“Dude, there’s no penalty until next yr,” Sahil Kapur of Talking Points Memo tweeted, followed with a full story in the news outlet with a headline saying Mr. Drudge was “probably lying.”

“Americans don’t pay a penalty for not having health insurance until they file their 2014 taxes—in 2014,” Dylan Scott wrote in the story. “So either Drudge is lying or he paid a huge penalty a year earlier than he needed to.”

A similar story appeared in Huffington post, in which the author, Jeffrey Young, wrote Mr. Drudge’s tweet was “weird” and a “little head-scratching.”

What each critical tweeter and pundit failed to realize was that Mr. Drudge, as the self-employed proprietor of The Drudge Report, files taxes as a small business on a quarterly basis.

Matt Drudge followed up his tax comments today with this tweet:



Sure enough, here it is, via Twitchy:
wh form

http://www.thegatewaypundit.com/2014/03/ouch-matt-drudge-knocks-media-lapdogs-with-irs-form-on-liberty-tax/

[Gazoo]

A few minutes later, Jason Lee, the Director of Progressive Media at the White House,

Read more: http://www.washingtontimes.com/news/2014/mar/22/media-wrongly-attack-drudge-after-he-admits-paying/#ixzz2wsiW2IP3

Does the Obama White House have a regular media director? A non commie one, that is?

[happyg]

[Gazoo]

Anyone using any online tax program such as Turbo Tax, H&R Block, was asked THIS current tax season if they had health insurance. The MSM and their progressive political party were caught red-handed not knowing what the hell they are talking about.

How the feds will know if you have health insurance

By Barbara Marquand, Insure.com - Last updated: April 3, 2013

Starting next year the Patient Protection and Affordable Care Act will require most Americans to have health insurance.
That means unless you qualify for an exemption under the law, you'll have to buy a health plan if you don't already have one through work, a government program (such as Medicare or Medicaid) or an individual health plan. If you meet certain income requirements, you could get a tax credit to help you afford coverage.
[Let Insure.com help you find affordable health insurance now.]

But how will the government know if you have health insurance -- and how much of a penalty will you pay if you don't?
Those are among big questions federal officials are addressing as they write final rules for how to put the individual mandate into effect. The mandate -- the provision requiring you to have health insurance in 2014 -- remains the most controversial part of health care reform.

Why your 2012 tax return is important

Tax professionals are telling clients this tax season about the important changes ahead. The 2012 return you file this year will serve as a baseline for whether you qualify for a tax credit to help you afford coverage in 2014.

"This is why it's so important for consumers to get educated," says Meg Sutton, senior adviser for tax and health care services at H&R Block.

According to a survey last fall by the Tax Institute at H&R Block, 77 percent of respondents were unaware that the 2012 tax return would serve as a baseline for subsidies. And 44 percent of respondents ages 18 to 34 were unaware of the tax penalties they could face if they fail to get coverage in 2014.

H&R Block tax professionals are doing a tax and health care review for all clients during this tax season. The review includes whether clients will be eligible for tax credits to buy health insurance and the potential for tax penalties if they don't get coverage in 2014.

Reporting health insurance coverage

The health insurance coverage you have in 2014 will be reported to the federal government. Health insurers, employers that sponsor health plans and agencies that administer government health plans will file annual reports to the IRS about who is covered under their plans. They will also provide the people they insure with documentation about the coverage.
Starting in 2015, when you file your tax return for the previous year, you will report whether you and your family members had health insurance coverage. The exact forms you will file have yet to be determined, Sutton says. Details will be clarified as 2015 approaches.

If you did not have health insurance in 2014 and also are not exempt from the mandate, you will pay a tax penalty.
At first, the penalty will be small, but it will grow each year.

• In 2014, the penalty will be $95 per person or $285 per family of three or more, or 1 percent of taxable income, whichever is greater.
• In 2015: $325 per person or $975 per family of three or more, or 2 percent of income, whichever is greater.
• In 2016: $695 per person or $2,085 per family of three or more, or 2.5 percent of income, whichever is greater.

After that, the penalty will increase according to a cost-of-living adjustment.

Sutton says the penalty will be subtracted from your income tax refund. If you do not get a refund, the penalty likely will be subtracted from any future refund the government owes you.

Some insurers have said the penalties are too low, but health economist Austin Frakt, an assistant professor at Boston University School of Medicine and School of Public Health, maintains they may be high enough.

"Insurers may be correct that the penalties in the first two years will be too low, but it is harder to make the case that the fully phased-in penalties will be too low," he writes in a Jan. 17, 2013, article in the Journal of the American Medical Association.

http://www.insure.com/articles/healthinsurance/tax-returns-health-insurance.html

[andy58-in-nh]

Does the Obama White House have a regular media director? A non commie one, that is?

It would, if we had a "non-Commie" White House.

[Gazoo]

http://social.newsinc.com/media/json/69017/25741354/singleVideoOG.html?type=VideoPlayer%2F16x9&videoId=25741354#.UzAoGQiH834.facebook

[andy58-in-nh]

Drudge is of course correct, as any independent contractor or small business owner who pays estimated quarterly taxes might tell you.

Our virtual state-run media's responses to him were instructive, for at least two reasons.

First, they demonstrated how little our elites know about basic, practical business operations; as with their beloved President, one suspects none of them could run a lemonade stand.

Second, it demonstrated again just how close are the ties between the White House and its media publicists. When Obama's people say "jump", they do so nearly instantaneously and in unison, synchronized like a North Korean stadium crowd with color placards spelling out love notes to Dear Leader. 

[Gazoo]

It would, if we had a "non-Commie" White House.

No matter how sad it is that our country has been infiltrated and taken over for ruin...

The one thing that is positive is the media are no longer respected. They are busted red-handed being the mouthpiece for radical progressive ideals. They are nothing but campaign headquarters. Obama has the media in his hip pocket and his approval numbers are still down. If the establishment republicans would just wake the frick up and see their approval numbers are in the tank because they have BECOME politically correct liberals 2.0.

[happyg]

Drudge is of course correct, as any independent contractor or small business owner who pays estimated quarterly taxes might tell you.

Our virtual state-run media's responses to him were instructive, for at least two reasons.

First, they demonstrated how little our elites know about basic, practical business operations; as with their beloved President, one suspects none of them could run a lemonade stand.

Second, it demonstrated again just how close are the ties between the White House and its media publicists. When Obama's people say "jump", they do so nearly instantaneously and in unison, synchronized like a North Korean stadium crowd with color placards spelling out love notes to Dear Leader.

As usual, you are right. I learned the hard way. When my husband was dx with Alzheimer's, I had to take over the books. What a mess! In hindsight, I should have hired someone to do it. We had a small bar, but the city, state, county, and fed taxes were a nightmare for me. At least I learned. Our congresscritters are too dumb to learn about the bill they passed.

[Gazoo]

Drudge is of course correct, as any independent contractor or small business owner who pays estimated quarterly taxes might tell you.

Our virtual state-run media's responses to him were instructive, for at least two reasons.

First, they demonstrated how little our elites know about basic, practical business operations; as with their beloved President, one suspects none of them could run a lemonade stand.

Second, it demonstrated again just how close are the ties between the White House and its media publicists. When Obama's people say "jump", they do so nearly instantaneously and in unison, synchronized like a North Korean stadium crowd with color placards spelling out love notes to Dear Leader.

Exactly. And they are now silent about it. They tried to use this to discredit Drudge. Yet, they themselves must read Drudge because they were on this like white on rice.

[Gazoo]

For some who are married but filing taxes separately, another HealthCare.gov hurdle - The Washington Post
http://www.washingtonpost.com/national/health-science/for-those-legally-married-but-filing-taxes-alone-another-healthcaregov-hurdle-looms/2014/03/23/e550382c-af8f-11e3-95e8-39bef8e9a48b_story.html

[happyg]

For some who are married but filing taxes separately, another HealthCare.gov hurdle - The Washington Post
http://www.washingtonpost.com/national/health-science/for-those-legally-married-but-filing-taxes-alone-another-healthcaregov-hurdle-looms/2014/03/23/e550382c-af8f-11e3-95e8-39bef8e9a48b_story.html

Obamacare is making it harder to get insurance, unless you are already on Medicaid.

[jmyrlefuller]

There is one problem with this:

The mandate does not apply to businesses. It applies to individuals.

The mandate would thus be filed with Drudge's individual tax return next year, not with his quarterly returns for the Drudge Report (a separate, non-human entity which isn't subject to the mandate).

[andy58-in-nh]

There is one problem with this:

The mandate does not apply to businesses. It applies to individuals.

The mandate would thus be filed with Drudge's individual tax return next year, not with his quarterly returns for the Drudge Report (a separate, non-human entity which isn't subject to the mandate).

If the Drudge Report were a standard "C" corporation, that would be true, as it would be taxed separately from its owners. But because he files as a Subchapter S corporation, Matt files a 1040, like you and me. The IRS rule applies equally to sole proprietorships, partners, S corporation shareholders, and/or self-employed individuals.

[240B]

Obamacare is making it harder to get insurance, unless you are already on Medicaid.

That was the whole point of Obamacare. The point wasn't to 'fix' healthcare, the point was to destroy healthcare. And they exempted themselves and their friends from it, and then killed the American healthcare industry. They don't care. They and their friends and family are covered for life.
 
This is the biggest 'screw you' American government has ever done to the American people. And American Liberals applaud and cheer their own demise. Idiots.

[Oceander]

There is one problem with this:

The mandate does not apply to businesses. It applies to individuals.

The mandate would thus be filed with Drudge's individual tax return next year, not with his quarterly returns for the Drudge Report (a separate, non-human entity which isn't subject to the mandate).

Which quarterly returns are you referring to?  quarterly estimated payments are not the same thing as employment or payroll tax returns.

[mountaineer]

Newsbusters observes:

Diligent Drudge Includes Obamacare Penalty in First Federal Tax Estimate; Media Hysteria Ensues, But AP Ignores
  By:  Tom Blumer  | March 25, 2014, 00:56 ET 

On Friday afternoon, Matt Drudge announced in a tweet that "(I) Just paid the Obamacare penalty for not 'getting covered'... I'M CALLING IT A LIBERTY TAX!"

A White House spokesman and the "progressive" press proceeded to thoroughly embarrass itself in its rebuttal attempts. How do I know? Because, four days later, despite the substantial and widely-known uproar, the Associated Press, aka the Administration's Press, doesn't even have a story on the topic; a search at 11:30 p.m. on Monday on Drudge's last name came up empty. If Drudge's detractors had the upper hand, AP would be all over it. ...

Read more

[olde north church]

That was the whole point of Obamacare. The point wasn't to 'fix' healthcare, the point was to destroy healthcare. And they exempted themselves and their friends from it, and then killed the American healthcare industry. They don't care. They and their friends and family are covered for life.
 
This is the biggest 'screw you' American government has ever done to the American people. And American Liberals applaud and cheer their own demise. Idiots.

Well, John and Jane Q. Front Porch obviously have not problem with it.