January 21, 2017 by Tony Novak
Within hours after taking office yesterday President Trump signed an executive order that directs federal agencies to waive or delay any provision deemed a burden to individuals, health care providers or insurance companies. Tax professionals are not immediately clear on what the order means in our are of work. Tax writer Tony Nitti tweeted “Serious question…has anyone figured out what the executive order on Obamacare means for the premium tax credit? Nothing?”
Kiplinger Tax Report reported a few days ago that IRS was planning to send out employer penalty letters this month for companies that owe shared responsibility payments. Does the presidential order mean that the taxes will not be enforced? We do not know at this point.