Friday, October 24, 2014

Your tax refund is in the mail

Well, eventually anyway;
The coming tax-filing season could be the most complicated ever for the Internal Revenue Service, IRS Commissioner John Koskinen said in an interview with the nonprofit publisher Tax Analysts that was published this week.
Congress has yet to reinstate dozens of tax provisions that expired at the beginning of 2014, he noted. In past years, late action by Congress on such provisions created problems for the IRS and sometimes delays that affected taxpayers.
But there's another reason. The IRS is busy illegally paying Obamacare subsidies to people enrolled in health insurance schemes for which congress didn't authorize them. As the IRS commissioner admits;
Moreover, “the difference this year compared to the past is we are having to implement the Affordable Care Act and Fatca,” he said.
Fatca being another ingenious policy of the Obama Administration. One that the IRS has, in the past, denied was complicating things;
In a statement on its website, Robert Stack, deputy assistant secretary for international tax affairs, rebuts certain "myths".
"Fatca provisions impose no new obligations on US citizens living abroad... US taxpayers, including US citizens living abroad, are required to comply with US tax laws," he says​.
The Supreme Court is soon going to have to decide if the IRS is also required to comply with US tax laws.

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