More Resident Obama change you can believe in!A Bigger, Badder IRS: Brought to You by Obamacare [Daniel Foster]
The National Taxpayer Advocate, tasked with representing your interests within the Internal Revenue Service, says the IRS must restructure — and grow — to handle its new redistributive and enforcement responsibilities under the Affordable Care Act:
Though the IRS's main mission is to collect taxes, it has been given a key role administering health insurance premium subsidies, tax credits for small businesses, assessments on employers and the mandate that beginning in 2014 everyone obtain insurance."I have no doubt the IRS is capable of administering social programs, including health care," Olson said. "But Congress must provide sufficient funding and the IRS itself must recognize that the skills and training required to administer social benefit programs are very different from the skills and training that employees of an enforcement agency typically possess."
Moreover, to "reduce the under-reporting of business income," the ACA will require all businesses and tax-exempt orgs to issue 1099s to all vendors with whom they do more than $600 of business (both services and goods) in a given tax year, an onerous requirement that "may impose significant burdens on businesses, charities, and government agencies," and that "may turn out to be disproportionate as compared with any resulting improvement in tax compliance."
Thursday, July 8, 2010
A Bigger, Badder IRS: Brought to You by Obamacare - Daniel Foster - The Corner on National Review Online
A Bigger, Badder IRS: Brought to You by Obamacare - Daniel Foster - The Corner on National Review Online
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