Last night the House passed the Senate version of Obamacare.
This most likely will expand the powers of the IRS and require 16,500 additional IRS auditors and revenue officers. According to the Republicans of the House Ways and Means Committee the following will additional authority will be granted to the IRS:
- IRS agents verify if you have 'acceptable' health care coverage
- IRS has the authority to fine you up to $2,250 or 2% of your income (whichever is greater) for failure to prove that you have purchased 'minimum essential coverage'
- IRS can confiscate your tax refund
- IRS audits are likely to increase
- IRS will need up to $10 billion to administer the new health care program this decade
- IRS may need to hire as many as 16,500 additional auditors, agents and other employees to investigate and collect billions in new taxes from Americans
- Nearly half of all these new individual madate taxes will be paid by Americans earning less than 300 percent of poverty ($66,150 for a family of four)
- IRS will be prohibited from imposing these taxes and penalties on illegal immigrants.
If you are concerned about the Internal Revenue Service's overarching powers, this bill should be very worrisome to you.
No comments:
Post a Comment