IRS unable to recoup nearly $1 billion in Obamacare subsidies
(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…) ]
Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.
💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.
📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌