IRS Health Care Reform Enforcement Lacks Authority

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The IRS has been tasked with ensuring all American taxpayers have health insurance under President Obama’s health care reform bill. The Senate bill makes it compulsory for individuals to purchase health insurance and businesses to offer it. Many would be receiving subsidies to finance this insurance.

The whole purpose of this mandatory law is to get more healthy Americans to buy health insurance so that the risk of older less healthy Americans is spread out among a much broader base of people. Tax credits will be given for those earning between $22,050 and $88,200. Those who flout the law would be fined up to $750 for individuals and $3,000 for businesses.

But this new task for the IRS to carry out has its own problems.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Darrin Mish, Tampa Tax Attorney, The Law Offices of Darrin Mish, P.A. | Attorney Advertising

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