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It's complex and confusing. Why isn't it more popular?

November 08, 2011

The TaxProf Blog has this headline today:

TIGTA: Only 14% of Eligible Small Businesses Claim ObamaCare Tax Credit

The IRS is just baffled as to why employers might be passing up this tax break:

According to the IRS, as of mid-May 2011, just more than 228,000 taxpayers had claimed the Credit for a total amount of more than $278 million. Among reasons given by industry groups and professional organizations for the low volume was the time and effort required to claim the Credit. The IRS plans to conduct focus groups to determine why the claim rate was so low.

Hey IRS, focus on this:

Click to enlarge

This should give pause to Congresscritters and experts who think that they can nudge us all into optimal behavior (whatever that means) by carefully-calibrated and phased-out targeted tax benefits. But it won't.

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That flowchart is stunning. It reminds me why I stopped preparing tax returns for a living.

Jake -- Sadly, that stuff is just another day at the office anymore.

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