Question on Aca subsidies

[DonP]

I’ve not run into this . A friend of mine doing aca a long time told me this . She has clients who are self employed making $200k a yr . When they signed up 5 yrs ago they put they were making $30k a yr . Every yr they do their taxes and pay what they owe on their correct income . They go back in and redo their app during open enrollment and est their next yrs income at $30k . When they ask for prove of income they send in excel spreadsheet showing $30k . They keep the low cost share . Will the irs really not challenge that if you do it yearly ?

 

[Yagents]

I’ve not run into this . A friend of mine doing aca a long time told me this . She has clients who are self employed making $200k a yr . When they signed up 5 yrs ago they put they were making $30k a yr . Every yr they do their taxes and pay what they owe on their correct income . They go back in and redo their app during open enrollment and est their next yrs income at $30k . When they ask for prove of income they send in excel spreadsheet showing $30k . They keep the low cost share . Will the irs really not challenge that if you do it yearly ?

Yup. Fraudulent but it's a loophole.

 

[Yagents]

And they get a interest free loan and screw the taxpayers with low oop

 

[ValeRosso]

I’ve not run into this . A friend of mine doing aca a long time told me this . She has clients who are self employed making $200k a yr . When they signed up 5 yrs ago they put they were making $30k a yr . Every yr they do their taxes and pay what they owe on their correct income . They go back in and redo their app during open enrollment and est their next yrs income at $30k . When they ask for prove of income they send in excel spreadsheet showing $30k . They keep the low cost share . Will the irs really not challenge that if you do it yearly ?

I have a client who is self employed and did something similar. IRS came back with the hammer after they got ahold of his 1099’s after he claimed he made 45k and now he owes a shit ton of money.

 

[Yagents]

I have a client who is self employed and did something similar. IRS came back with the hammer after they got ahold of his 1099’s after he claimed he made 45k and now he owes a shit ton of money.

Clawback is obvious on tax credits. Problem is no OOP is clawed back on CSR plans