Obamacare and the IRS

Wait until you meet the new and not improved Internal Revenue Service created by ObamaCare.

With ObamaCare, the IRS is now responsible for “the most extensive social benefit program the IRS has been asked to implement in history.” And without sufficient new funding it won’t be able to discharge these new duties.

That wouldn’t be tragic, given that those new duties include audits to determine who has health  insurance “as required by law” and collecting penalties from Americans who don’t. Companies that don’t sponsor health plans will also be punished. This stupid plan will involve nearly every division and function of the IRS.

Republicans argued during the health debate that the IRS would have to hire hundreds of new agents and staff to enforce ObamaCare but they were brushed off by Democratic machine as if they believed that Obama was Jesus Christ reincarnated.

The IRS says it hasn’t figured out how much extra money and manpower it will need but admits that both numbers are greater than zero and are significant. The IRS really cannot do the job because their current computers are from the 1960’s. Totally inadequate and obsolete.

There is also a provision that will hit some 30 million sole proprietorships and subchapter S corporations, two million farms and one million charities. Form 1099 will be required to report the value of goods they buy from a single vendor that total more than $600 annually—including office supplies and the like.

 Job creation will be enhanced, at least for the accountants who attempt to comply with a vast new 1099 reporting burden.

Most of us would “pine” for the old  tax system of a few months ago, but Celebrate because a post-ObamaCare IRS  is here now.