The Obama administration announced Monday it will cut off tax subsidies to about 360,000 people if they do not offer proof of their income in the next two weeks.
Officials will send final notices this week to individuals who signed up for ObamaCare with income levels that didn’t match government records. The announcement marks the administration’s first move to tackle the politically charged issue of income verification, which has remained a key GOP argument against the healthcare reform law.
Those who don’t confirm their income levels could lose their tax credit and face higher premiums and higher deductibles.
For people who thought dealing with their health insurance company was a nightmare, wait until they find themselves in the tender clutches of the IRS.