Megan McArdle is writing at Bloomberg about yet another waiver from the ObamaCare Law, this one to the provision requiring penalties be paid to the IRS of any excess in federal tax credits that an insured person may have received as health insurance subsidies, if the taxpayer does not pay the excess back by April 15th.
McArdle says this about the waiver of the “clawback” penalties:
It’s not relieving you of the obligation to repay; it’s just saying that you won’t be liable for a penalty if you don’t repay by the deadline. Interest will continue to accrue, but the interest rates that the IRS charges are actually pretty reasonable (and probably much better than what your credit card company charges). It’s the failure-to-pay penalties it layers on top — half a percentage point a month, with even stiffer penalties for failing to file — that really make your tax bill add up fast.
The full article is HERE.