Posted on 08/22/2015 7:05:21 AM PDT by SeekAndFind
Remember the hue and cry when it looked like the Supreme Court could deny ObamaCare subsidies to millions of people? Looks like it could happen anyway, thanks to the law's tax complications.
Fully 40% of taxpayers who received ObamaCare subsidies last year haven't filed their taxes yet and are at risk of losing their subsidies for next year, according to the American Action Forum.
An update on ObamaCare that the IRS recently sent to Congress said that out of the 4.5 million taxpayers who got ObamaCare's "advance payment" subsidies last year, only 2.7 million had filed the required tax forms as of the end of this May.
The rest filed for an extension (360,000), haven't filed at all (710,000) or didn't submit the new ObamaCare form — Form 8962 — that's required to make sure they got the right subsidy amount (760,000).
These 1.8 million taxpayers actually represent 2.8 million individuals, according to the IRS, since one taxpayer can file on behalf of his spouse and children. In a separate document, the IRS notes that if these taxpayers don't file and if they try to sign up for a plan for 2016, they won't be eligible for ObamaCare subsidies. And they might have to "pay back some or all of the 2014 advance payments of the premium tax credit." This is the latest evidence of just how wildly complex ObamaCare's subsidy scheme is. When enrollees sign up for coverage, they have to forecast what their income will be next year, because it determines their subsidy amount.
Guessing correctly has proved nearly impossible.
(Excerpt) Read more at news.investors.com ...
BOO FU**ING HOO!
You are paying for them, the loser-parasites, that’s how it’s set up...........BTW, pay nearly $600 a month for lousy coverage that used to be no cost from my employer for excellent coverage, until Nobamacare was enacted they had to drop all health insurance because they could no longer afford it for us.......
Same here, but got a letter from IRS in May that said send it to us or else............
add their premiums to their skyrocketing electric bills
Obama leftwing governance on steroids
try an anonymous snitch report to the IRS
If they recover you get a percentage
And these are the sickest group
A large part of the group are people too sick to work. This will further drive up the health care costs.
You can be filthy stinking rich, but if you don’t draw any income then you can actually go on Medicaid in expanded Medicaid states. Some people are using Obamacare as an early retirement tool and pay next to nothing for health insurance before Medicare kicks in.
Obama said [paraphrased] “sometimes it’s in all our interests to ‘give them a pill’ and send them home [to die]”
“The best way to force the repeal of a very bad law, is to enforce all its provisions.”
Two anecdotes about that and the ‘Cadillac’ tax provision. Cost of premiums comes up and I say that the Cadillac tax was created to lower costs but it’s mot been put aside by Barry.
One women replied that she drove a Toyota, a college kid said he didn’t have a car, rode a bike ( both said they voted )
Swell, just John F’n Kerry swell
A couple of years ago, I had to explain the IRS' own form 1040 instructions to them.
It took them six months to figure out that I was right...
Oh, the irony!
Unprosecuted felons going after purported felons...
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