Tags: irs | millions | implement | obamacare

IRS to Use $881 M in Taxpayer Dollars to Implement Obamacare

By Todd Beamon   |   Friday, 15 Jun 2012 10:29 AM

The U.S. Internal Revenue Service is expected to use $881 million in taxpayer money to implement the first four years of Obamacare, including more than $500 million that the Department of Health and Human Services (HHS) diverted to the agency, according to a federal audit.

The new Government Accountability Office audit calls Obamacare a “significant effort for IRS,” CNS reported on Friday.

The IRS “implementation costs” are expected to total $881 million from fiscal years 2010 to 2013, it says.

The $881 million cost only covers work through 2013. However, the IRS has implementation work planned through 2018, so the total cost could be higher.

Of the $881 million, $521 million will come from the HHS Health Insurance Reform Implementation Fund (HIRIF), which has been criticized as a “slush fund” by Republicans. The remaining $360 million is to come from IRS’s 2013 budget request, expected to be awarded through the congressional budget process.
HIRIF received $1 billion from Congress to implement the health care overhaul. The GAO has said that transferring $521 million from that to the IRS is legal.

As of the end of fiscal year 2011, IRS had received $187 million of the HHS money, according to the audit. The remaining $332 million is expected to come by the end of this fiscal year. As of April 27, however, about $135 million of that amount had been awarded.


© 2015 Newsmax. All rights reserved.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved