President Trump has already accomplished so much while being in office. Now he is making some big changes to the tax code that has over 30 million taxpayers rejoicing.
That’s right. According to Trump’s new executive order, there won’t be any IRS witch hunts for people who have not enrolled in Obamacare.
According to sources, President Donald Trump’s executive order reverses the health law’s individual mandate that requires everyone to either maintain qualifying health coverage or pay a tax penalty, known as a “shared responsibility payment.”
The IRS was set to require filers to indicate whether they had maintained coverage in 2016 or paid the penalty by filling out line 61 on their form 1040s.
In short, the IRS won’t be penalizing any Americans who do not respond to “line 61”:
Typically, filling out line 61 would be mandatory. The IRS would not accept 1040s unless the coverage box was checked, or the shared responsibility payment noted, or the exemption form included. Otherwise they would be labeled “silent returns” and rejected.
Now, however, filling out that line will be optional.
But the rules amendment states that the decision to respond to the IRS question about the health insurance mandate would be “voluntary.”
However, Michael Cannon, health policy adviser with the libertarian think tank Cato Institute, stated:
“[The law] does not allow the administration not to enforce the mandate, which it appears they may be doing here. Unless the Trump administration maintains the mandate is unconstitutional, the Constitution requires them to enforce it.”
Ryan Ellis, Senior Fellow at the Conservative Reform Network, stated:
“The mandate can only be weakened by Congress. This is a change to how the IRS is choosing to enforce it. They will count on voluntary disclosure of non-coverage rather than asking themselves.”
In closing, President Trump just saved a lot of uninsured Americans a lot of money.