Open thread July 21, 2015 Dan Crawford | July 21, 2015 6:38 am Tags: open thread Comments (14) | Digg Facebook Twitter |
My dog died last night. 🙁
Greece should prepare for Grexit and then not do it
Charles Wyplosz 20 July 2015
Warren I am so sorry to hear that.
I still miss my dog. And she died in 1979. We raised her from a newborn (too many puppies for her mom) and she was the seventh member of our family. If it helps you won’t forget your dog. Ever. And will remember the good times.
Koskinen says 700,000 people who received subsidies didn’t file a federal return? Maybe they filed an extension.
From Marilyn Tavenner, then head of CMS
MYTH: The Marketplace won’t check income information submitted by individuals.
FACT: No matter which type of Marketplace is operating in a state, the Marketplace will always check the income information submitted by individuals against electronic income data sources such as tax filings, Social Security data, and current wage information. In most circumstances, we will request additional documentation from all affected individuals, such as when an individual does not have a tax return on file and attests to an income significantly below current wage data.
We will request additional documentation from a random sampling of individuals only in the specific circumstance when:
Current income information is not available;
There is a significant discrepancy between the income reported on an available tax return and the income provided by the individual; and
The individual cannot provide an acceptable explanation for this discrepancy.
Bruce here: looks to me that the Marketplaces only need ONE source of verification which could be Social Security data as opposed to an actual tax form. Meaning that they are in the income verification biz and not the IRS investigator by proxy biz. That 700,000 recipients are late, extended or never going to file at all is not properly their concern.
Along those lines I suspect the IRS has access to CMS files, as far as I know there are few barriers to the IRS info gathering powers. One reason they are so beloved by all.
By Corinne Ramey
July 19, 2015 8:33 p.m. ET
“New York state’s fast-food wage board on Wednesday is expected to recommend raising the fast-food minimum wage to $15 an hour, and the state’s labor commissioner is expected to approve that recommendation, according to a person familiar with the board’s plans.”
New York Gov. Andrew Cuomo said: “It costs this state $700 million a year to subsidize the profits at McDonald’s and Burger King and that is wrong and that must stop,
“The number of jobs and restaurants in New York’s fast-food industry is growing at more than twice the national rate, said James Parrott, chief economist at the Fiscal Policy Institute,
“Wages are so low that 60% of fast-food workers qualify for public assistance,” said Mr. Parrott. “Taxpayers are subsidizing low-wage workers in fast food.”
very sorry to hear that.
i have had to learn to think of mine as being on loan.
sorry about you’re loss
I need to see this letter.
“John Koskinen, the IRS commissioner, told Hatch on Friday that 710,000 taxpayers who received tax credits to help purchase insurance under the Affordable Care Act had yet to either file or seek an extension. ………
Mark Mazur, the assistant Treasury secretary for tax policy, said in a blog post last week that about a third of the taxpayers who have yet to reconcile the credits they received under ObamaCare with their 2014 income filed for an extension. ”
cause those statements are not the same.
Thank you, Bruce and Beene.
“[Looks] to me that the Marketplaces only need ONE source of verification which could be Social Security data as opposed to an actual tax form. Meaning that they are in the income verification biz and not the IRS investigator by proxy biz.”
There are several, actually. The IRS is one, but the Marketplaces also use the credit rating services. Actually, they all call “The Hub”, which is linked to those other sources.
That 700,000 recipients are late, extended or never going to file at all is not properly their concern.
“That 700,000 recipients are late, extended or never going to file at all is not properly their concern.”
(I hit POST too soon.)
Yes. I expect the bigger problem is that so many of them don’t even think they need to file a return — their income has always been so low that they do not need to file, and that hasn’t changed.