Tag: ‘Affordable Care Act’

Dynamic Scoring Forum: Three Things You Should Know About Dynamic Scoring

By :: February 27th, 2015

This is one of a series of guest TaxVox blog posts discussing dynamic scoring. The House recently changed the rules of budget scoring: The Congressional Budget Office and the Joint Committee on Taxation will now account for macroeconomic effects when estimating the budget impacts of major legislation. Here are three things you should know as […]

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To Collect Money You Have to Have Money

By :: February 25th, 2015

High-income households can worry even less about being audited this year. Last year, the IRS audited just 7.5 percent of households earning more than $1 million in 2013. That’s the lowest share since 2009. Its overall individual audit rate was 0.86 percent, the lowest  since 2004. The IRS budget has been cut by $1.2 billion […]

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So Far, Affordable Care Act Users Are Managing Tax Filing, Many Uninsured May Use New Enrollment Period

By :: February 24th, 2015

So far, most people with Affordable Care Act insurance subsidies seem to be filing their taxes without huge problems, despite the complexity of the process. However, about half of those who have filed returns with tax prep firm H&R Block and who owe a penalty for not having insurance, have expressed interest in purchasing exchange coverage, […]

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Better Ways to Link the Affordable Care Act with Tax Filing Season

By :: February 23rd, 2015

The Obama Administration, finally acknowledging the seasonal mismatch between the Affordable Care Act’s open enrollment season and the ACA’s tax-based penalties for failing to have insurance, decided on Friday to create a new special enrollment season for this year only.  The new window will allow those who are subject to the penalty for 2014 ($95 […]

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Tax Subsidies, Cuts, and Consequences

By :: February 23rd, 2015

There are tax information troubles for ACA enrollees. When it comes to the Affordable Care Act and filing taxes, “sorting through all the necessary paperwork is hard to do, even for those of us whose day jobs are in tax policy,” writes TPC’s Ellen Steele, a tax-preparing volunteer with Community Tax Aid. Making things more […]

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The Affordable Care Act Tax Filing Season: A View From the Trenches

By :: February 20th, 2015

Several of us at the Tax Policy Center volunteer with Community Tax Aid to help low-income people file their taxes. We’ve had a chance to see, first-hand, how the Affordable Care Act is affecting tax filing. This is the first filing season when taxpayers must navigate the new provisions of the ACA on their 1040s. The […]

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No Hitting the Brakes for Tax Breaks…

By :: February 13th, 2015

Some House GOPers want to help millionaires save for college. Yesterday the House Ways and Means Committee approved a bill to expand the Sec. 529 college savings plan and rejected a Democratic amendment to limit the plans for people earning more than $3 million a year. Bloomberg reports that the amendment would have affected about […]

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A Replacement, A Vision, and Promises

By :: February 6th, 2015

An Obamacare replacement?  Senate Finance Committee chair Orrin Hatch, House Energy and Commerce chair Fred Upton, and GOP Senator Richard Burr have released their health reform plan, called the Patient CARE Act. The proposal, similar to a bill Hatch and Burr introduced last year, would repeal the Affordable Care Act and provide income-adjusted tax credits […]

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Taxed Reactions and Revenue Rules

By :: February 4th, 2015

House GOP on the President’s tax proposals: “Meh.” House Ways and Means Chair Paul Ryan told Treasury Secretary Jack Lew yesterday that “You have gradually, grudgingly taken a few steps in my opinion in the right direction… It’s progress… Not a lot. But we’ll take it.” Ryan and his colleagues wanted the President to do […]

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Spending Caps? What Spending Caps?

By :: January 30th, 2015

Up next week: The President’s Budget. President Obama will release his budget  for fiscal year 2016 on Monday. The plan would increase spending above the sequester limits of  the Budget Control Act of 2011. Steep cuts were triggered in 2013 when Congress failed to reach a budget deal, but were then temporarily suspended thanks to […]

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