Tags: Obamacare | taxes | health | law

CNNMoney: Obamacare Taxes Appear Unstoppable

Friday, 16 Aug 2013 07:42 AM

By John Morgan

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Defunding Obamacare would not stop the taxes that the landmark healthcare law has put into motion, according to tax experts contacted by CNNMoney.

Some Republicans in the House and Senate are organizing to deny federal agencies the monies they need to implement and enforce the Affordable Care Act, but they have failed in previous efforts to repeal the law.

CNNMoney said that even if the anti-Obamacare forces succeed in denying the ACA its money, that would not change the law and the tax provisions would still be in effect.

Editor’s Note:
Seniors Scoop Up Unclaimed $20,500 Checks? (See If You Qualify)

"Laws on the books are legally binding," said David Gamage, a law professor at the University of California, Berkeley. "Even if the IRS stopped all auditing next year, every American would be obligated to pay taxes."

Americans who use an accountant, a professional tax preparer or tax software will be encouraged to follow the existing tax laws, including ones that apply to Obamacare, CNNMoney predicted.

"The return preparer can't sign a return that they know to be wrong," said Clint Stretch, senior tax policy counsel at Tax Analysts.

The Obamacare tax provisions include penalties against individuals who do not buy qualified health insurance in 2014; penalties against employers that do not offer full-time workers affordable insurance starting in 2015; taxes and fees for insurers and medical device makers; and a Medicare surtax on high-income households.

CNBC reported that with Obamacare getting closer to reality, "one thing is becoming clear: The controversial program is a dream come true for rip-off artists."

The health insurance reform law creates opportunities for swindlers to steal people's personal information, CNBC said, especially as the law encourages uninsured people to sign up starting Oct. 1 for online health exchanges through which Obamacare coverage will be provided.

"There are fake exchanges already up and running on the Internet," said Monica Lindeen, Montana's Commissioner of Securities and Insurance. "If you do a search and type in 'exchange,' you'll find all sorts of websites that claim to be in the exchange when they're not."

For months, thieves have conducting telephone, fax and email efforts to convince the unsuspecting that they are with Medicare, Obamacare or various federal agencies, CNBC reported. They often say they need to "verify" personal information such as a bank account or Social Security number, and then use that information to steal from the unwary.

There is only one place to shop online for a qualified health plan under the Obamacare: HealthCare.gov, a site run by the Center for Medicare and Medicaid Services.

Editor’s Note: Seniors Scoop Up Unclaimed $20,500 Checks? (See If You Qualify)

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