Friday, March 19, 2010
The Wrong Prescription: Democrats’ Health Overhaul Dangerously Expands IRS Authority
Committee on Ways and Means Republican Report
Prepared for Ranking Member Dave Camp (R-MI) and Charles Boustany (RLA),
Ranking Member of the Subcommittee on Oversight
March 18, 2010
EXECUTIVE SUMMARY
***Highlights of New IRS Authority***
IRS agents verify if you have “acceptable” health care
coverage
IRS has the authority to fine you up to $2,250 or 2 percent
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 mandate taxes will
be paid by Americans earning less than 300 percent of
poverty ($66,150 for a family of four)
***SPECIAL EXEMPTION***
Democrats prohibit the IRS from imposing these taxes and
penalties on illegal immigrants
Read the full report here.
Prepared for Ranking Member Dave Camp (R-MI) and Charles Boustany (RLA),
Ranking Member of the Subcommittee on Oversight
March 18, 2010
EXECUTIVE SUMMARY
***Highlights of New IRS Authority***
IRS agents verify if you have “acceptable” health care
coverage
IRS has the authority to fine you up to $2,250 or 2 percent
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 mandate taxes will
be paid by Americans earning less than 300 percent of
poverty ($66,150 for a family of four)
***SPECIAL EXEMPTION***
Democrats prohibit the IRS from imposing these taxes and
penalties on illegal immigrants
Read the full report here.
Labels:
Health Care,
Taxes
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