Obamacare

A coalition of employers and trade associations from a variety of different industries are asking Congress to clarify the rules for determining eligibility for tax credits for health insurance.

Undercover investigators working for the Government Accountability Office were able to receive approximately $30,000 in Advance Premium Tax Credits for health insurance after setting up a dozen fictitious accounts.

About 6.6 million U.S. taxpayers paid a penalty imposed for the first time this year for not having health insurance, about 10 percent more than the Obama administration had estimated—though a portion didn’t need to.

More than 300,000 taxpayers overpaid the Individual Shared Responsibility Payment for health insurance on their tax returns processed through the end of April, according to a new report from the National Taxpayer Advocate.

A group of lawmakers has introduced legislation to roll back guidance from the Treasury Department that prohibits employers from using stand-alone health reimbursement arrangements to reimburse employees for health care-related expenses.

Small business groups are sounding a warning about an obscure Internal Revenue Service rule that takes effect Wednesday imposing heavy fines on small businesses for helping defray the cost of their workers’ insurance or medical expenses.

Wolters Kluwer Tax & Accounting US has released two new tax briefings on the Supreme Court’s rulings last week on the Affordable Care Act and same-sex marriage, along with trade legislation that contained several tax provisions.

The Supreme Court’s highly anticipated 6-3 decision Thursday in King v Burwell found that premium tax credits under Code Sec. 36B, also known as health insurance subsidies, are not limited solely to taxpayers who live in states that have established their own health insurance exchange but are also available to taxpayers residing in states that have a federal exchange.

The King v Burwell decision by the Supreme Court, while leaving the status quo unchanged, nevertheless has elicited statements ranging from seasoned analysis to partisan diatribes on both sides of the issue that was litigated.

The Supreme Court, in a 6-3 decision, has upheld the tax subsidies under the Patient Protection and Affordable Care Act.