Lance Drury Law
Ste. Genevieve 573-883-3056
Columbia 573-886-8900
St. Louis 314-200-0003

January 2013 Archives

Even the IRS Doesn't Understand Obamacare

The IRS is getting a headache trying to understand and properly enforce tax provisions of the comprehensive health care reform known as Obamacare.  There are several effects of Obamacare.  Obtaining tax credits for health coverage is fraught with complications based on recent income fluctuations and major life events.  The IRS does not treat insurance subsidy repayments quite the same as regular income.The individual mandate is singularly unpopular among many.  Businesses must account for their obligations to the authorities and employees in light of certain employer-employee provisions of Obamacare.  Lower-income individuals may see their taxes rise not only in amount, but also in complexity of paperwork.  Complexity is a recurring theme.Obtaining tax credits for health insurance coverage is not as simple as it sounds.  A lower or middle-income individual needs health insurance.  Under Obamacare the IRS gives that individual's tax return information to indicate how much financial help that individual merits for health coverage.  The problem is that those tax returns are two years old.  In two years, a person may have become vastly richer or poorer.  This time lag can deliver credit as that are either too charitable or too harshly frugal.Determining how much, if any, of insurance subsidy income is taxable will vary state to state.  Interstate relocation and making other big life changes, such as getting married or divorced, further complicate the tax liability picture.The individual mandate is a prominent feature of Obamacare.  Some see the necessity of a tax penalty for those who do not buy health coverage.  Nevertheless, the individual mandate has its detractors.Another aspect of Obamacare casts uncertainty over hiring practices.  Effects and specifics of Obamacare on businesses and employee coverage are complex and may overwhelm small and medium-sized businesses.Lastly, Obamacare affects a demographic usually unconcerned with tax law nuances:  low and low-middle income individuals.  Obamacare will increase paperwork and overall difficulty of complying with all relevant laws that may apply to lower-income taxpayers.This is a uniquely unfortunate situation.  Unlike government agencies or businesses, lower-income individuals may not have the education or interest to accurately read and comprehend legal fine print usually the purview of tax law professionals.

Tax Attorney Lance Drury Helps Missouri Clients Resolve Their Tax Problems

Missouri - Tax Attorney Lance Drury, founder of the Law Firm of Lance R. Drury, has been practicing law since 1984 and began representing individuals and businesses in disputes with the Internal Revenue Service in 2006. With offices located in Ste. Genevieve and Columbia, Missouri, Drury has positioned himself as a leading attorney in the state for tax resolution issues. He is able to evaluate every client’s unique situation and provide them with honest answers and a specific plan to best resolve their tax problems.Drury has a genuine desire to help people resolve their tax issues. He relates, “I had an individual in my office not too long ago that was crying by the end of the process because he had been living with a tax problem for years. He was paying about a thousand dollars a month on his tax bill and I was able to negotiate his monthly payment down to about three-hundred dollars which was an amount much more manageable for him.” He continues, “I have many clients who have been very satisfied because they have had liens lifted, smaller than expected monthly payments, and reduced tax bills.”Drury is a graduate of the University of Missouri-Columbia with a bachelor degree in Political Science with a minor in Economics. He received his Juris Doctor from the Southern Illinois University, School of Law-Carbondale, and his Masters in Business Administration from Washington University- St. Louis. He began working as a private practice attorney in 1994 and now specializes in state and federal tax resolution. He is a member of the Better Business Bureau, Chamber of Commerce, Missouri Bar Association, and the United States Tax Court. Drury is dedicated to assisting individuals with IRS tax issues. He is committed to negotiating on behalf of his clients to get them the most reasonable settlement allowable by law. His tax resolution practice covers nearly a quarter of the state of Missouri.Drury plans to open more offices in Missouri to be more available to his clients. He also plans to add another attorney in the near future. Drury has joined a select group of America’s leading attorneys to co-write the forthcoming book, Protect and Defend: Proven Strategies from America's Leading Attorneys to Help You Protect and Defend Your Business, Family and Wealth. He also was featured on the television program America’s PremierExperts® as well as America’s PremierExperts® radio program. Because of his contribution to his industry and his outstanding business success, he is being featured as one of the country’s Legal Elite in USA Today.

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The Law Firm of Lance R. Drury
150 Merchant Street
Ste. Genevieve, MO 63670

Phone: 314-200-0003
Fax: 573-883-3095
Ste. Genevieve Law Office Map

St. Louis Office
3636 South Geyer Road, Suite 100
St. Louis, MO 63127

Phone: 314-200-0003
Fax: 314-238-7201

Columbia Office
3610 Buttonwood Drive, Suite 200
Columbia, MO 65201

Phone: 573-886-8900
Fax: 573-886-8901

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