IRS Obamacare Power of the Day:Thought Crime Tax

Posted by Adam Radman and Ryan Ellis on Monday, July 15th, 2013, 9:56 AM PERMALINK

Throughout the summer, Americans for Tax Reform will be highlighting the most outrageous new powers that the IRS will have under the Obamacare law.  According to a report from GAO, the IRS is tasked with nearly four dozen new powers under that law.  Each day, one will be selected for a brief review.

If you claim a tax deduction or credit and the IRS thinks you did so merely to reduce your tax liability (Heaven forfend), the IRS is empowered under Obamacare to disallow your perfectly-legal tax strategy.

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