October 25, 2018 / 12:01 AM / a month ago

Transitional Obamacare payments were not taxes - 4th Circuit

Payments that insurers made to the government to help stabilize the individual health insurance market after the Affordable Care Act passed in 2010 do not qualify as taxes, a federal appeals court has ruled in rejecting an employee benefit fund’s bid to obtain a refund.

The 4th U.S. Circuit Court of Appeals ruled on Tuesday that because the $1.04 million that the Electrical Welfare Trust Fund, a union health and welfare benefit fund, paid in 2014 went not to the Internal Revenue Service but to the U.S. Department of Health and Human Services, it was not a tax.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2Sg647Z

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