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IRS Prepares To Increase Scope Under Affordable Care Act

[ 0 ] May. 23, 2013 | SBO Editor

The Internal Revenue Service is preparing to expand its powers under the Affordable Care Act, as the agency is charged with dispensing health insurance subsidies, enforcing the individual mandate to purchase health insurance and administering penalties to businesses that do not offer coverage to employees. To facilitate the agency’s new responsibilities, the IRS and the Department of Health and Human Services are creating a centralized verification system called the Federal Data Services Hub, which will compile individual data from several agencies.

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Category: Features