Hatch Questions IRS’s Announcement to Waive Certain Obamacare Tax Penalties
Under the PPACA's subsidy program, subsidies are allocated to health insurers based on an individual's estimation of future income. If a change occurs in income, family status or size, or employment, taxpayers can come to owe the government a tax debt for excess subsidies.
In the letter, Hatch asks that
The text of the letter is below and a signed copy can be found here http://www.finance.senate.gov/imo/media/doc/Hatch%20Questions%20IRS%E2%80%99s%20Announcement%20to%20Waive%20Certain%20Obamacare%20Tax%20Penalties2.pdf.
The Honorable
Commissioner
Dear Commissioner Koskinen:
Yesterday, the
As you know, the President's health care law created a complicated health insurance subsidy whereby tax credits are sent directly to health insurers based on a taxpayer's estimation of future income. When that taxpayer experiences a change in income, family status or size, or changes in employment, they may come to owe the government a large, unexpected tax debt. According to yesterday's announcement, affected taxpayers will have the option of writing to the
I write to request the following information on the new waiver program:
1. What issues led the
2. How many taxpayers does the
1. How many of these taxpayers do you expect to apply for the new waiver program?
2. Detail the waiver process, including:
1. How will the
2. What documentation will
3. What office at
1. How many FTEs does your agency estimate will be required to review, decide, and track these waivers?
2. Has the
3. Has the
4. What are other instances when the
Thank you for your cooperation in this matter and future efforts to keep the Committee informed on agency activity.
Read this original document at: http://www.finance.senate.gov/newsroom/chairman/release/?id=03c6c169-0def-4b96-b9b8-5901e1c542b3
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