IRS unable to recoup nearly $1 billion in Obamacare subsidies
Friday, December 28, 2018 | Tag Cloud Tags: News, Obamacare, tax, Washington, Worthy News | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs!
(Worthy News) – The IRS overpaid nearly $4 billion to Obamacare customers through tax credits last year, and because of the way the law is written it can’t even try to collect on a quarter of that, the Treasury Department’s inspector general reported this week.
All told, the Treasury Department paid out roughly $27 billion in Obamacare subsidies in the 2018 tax-filing season, with overages accounting for $3.7 billion of that. Only $2.7 billion was recaptured.
The $1 billion left over is small compared to the overall federal budget, but it is 20 percent of the president’s border wall funding request that’s spurred the current government shutdown. [ Source: Washington Times (Read More…) ]
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