Posted on 09/22/2016 11:52:18 AM PDT by wtd
Complications arising from the Affordable Care Act (ACA) premium tax credits (PTCs) are causing millions of people to effectively break the law. People who benefit from advance premium tax credits (APTCs) must file tax returns and include a form to reconcile the advanced amount to the actual end-of-year entitled amount. The failure of so many people to fulfill this new legal requirement has led the government to spend more than it should have as APTCs tend to be higher than legally entitled amounts.
The big news is that tax filers, as of April 28, 2016, reported $15.8 billion in total APTC payments. According to data released by HHS, I estimate the amount of APTCs paid in 2015 equaled $26.7 billion—nearly $11 billion more than the amount reported by tax filers. It appears that about 3 million households that received an APTC in 2015 had not filed the required paperwork with the Internal Revenue Service (IRS) by the end of April 2016.
(Excerpt) Read more at forbes.com ...
President Trump is going to have to hire a boat load of accountants to find who’s wallet our tax dollars fell into.
More people need to know about the 8% rule.
If you are old, even the bronze plan is expensive. But if the cost is more than 8% of your gross income, you don’t have to buy insurance and you don’t have to pay a penalty.
We’ve saved about $45,000 in health care insurance premiums since Obamacare kicked in.
Will be checking this out.
What is wrong with this is that the government cost for this stuff should be $0.00. It is not that people not complying with tax law are shorting the government. It is that government is doing something it has absolutely no business doing.
government cost = bilk the taxpayers
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