Posts Tagged ‘compliance’

From CNBC:

The Internal Revenue Service on Tuesday assured congressional lawmakers that agents would play no role in enforcing the controversial requirement that Americans buy insurance under President Barack Obama’s health care overhaul. IRS revenue agents will not be involved. There will not be audits,” IRS Deputy Commissioner Steven Miller told a subcommittee of the tax-writing Ways and Means Committee in the Republican-controlled House of Representatives.

Thank goodness. This frees up agents to go about their normal activities, which according to the Tax Court, consists primarily of not substantiating their tax deductions and improperly claiming hobby losses.

Read Full Post »