re: #79 goddamnedfrank

The IRS won’t have all of a person’s income for a year until that year is over. Sure they can make a projection, but it won’t account for end of year windfalls or christmas bonuses, layoffs, the variability of contract work, etc. And since in 2014 and after the open enrollment period for the next year will have expired before the previous year is finished then actual verification can’t really be done. That’s why the IRS mandates employers send out 1099’s, because accounting is a bitch and not everything gets reported to them until after the tax year ends.

So again, I really want to know what this Republican idea of verification entails, because as Lawhawk said, verification already exists, only it’s not 100% prescriptive. Because of the way our tax system is constructed there has to be room for a subsidy adjustment if the forecasted income doesn’t match actual income earned.

But the IRS can go back and recover any difference, just like they can do with any audit.
So, someone can “cheat” for a year or so, but IRS will hunt you down and collect…