Repeal of section 1031 like-kind exchanges would hurt small businesses, investment & economic growth https://t.co/UsuNj6VkhC
Upcoming Tax Filing Season Could Be the Most Chaotic in Years
Last month, COGC reported that over one million Americans have received incorrect subsidies due to Obamacare’s incomplete backend. But the situation is likely even bleaker than initially thought.
Americans for Tax Reform’s Tax Policy Director Ryan Ellis joined a distinguished panel on Tuesday to testify in front of the Committee on Ways and Means Committee Subcommittees on Health and Oversight’s hearing on the Verification of Income and Insurance Information Under the Affordable Care Act. Ellis, who is also an IRS Enrolled Agent, warned that “the upcoming tax filing season has the potential to be one of the most chaotic in years.”
Ellis pointed to the failures of HealthCare.gov, poor record keeping by the government, and individual error or some combination of the three as a reason the tax-filing season will be a taxpayer's worst nightmare: “it won’t be the taxpayer’s fault—it will be the government’s fault,” said Ellis. Unfortunately for taxpaying citizens receiving incorrect subsides, Uncle Sam and the IRS doesn’t like to accept blame, and the burden will be unfairly placed on
to the taxpayers.
The “flawed, confusing process” currently hinders both applicants and employers to correctly file for tax credits, making matters worse is the government’s “failure to complete the back-end of the web site.” Ellis continues, “it’s in the interest of Congress to make sure that the entirety of the Obamacare signup system is fully functional—not just the front-end website, but the really important back end where this complex income verification system must be able to work.”
Supporters of Obamacare cannot realistically stand behind a law that was implemented with many integral features missing. The technical issues that continue to define Obamacare are much more than a political talking point, as the health of millions of Americans depend on the functionality of Obamacare.