Every day more & more comes out re BO's healthcare reform bill that was modeled after former Republican Governor & pseudo conservative Mitt Romney's Massachusetts universal healthcare reform that required virtually every citizen of the state to purchase healthcare insurance under legislative mandate.
If you would like to see the Massachusetts state income tax form that residents of the state use to prove to the authorities that they have healthcare insurance suitable to the government please click here
Internal Revenue Service (IRS) Commissioner Doug Shulman recently suggested that the IRS would "reduce or confiscate" the tax refunds of those individuals who are uninsured under BO's new healthcare law. Thus, the IRS will be the nation's new health care compliance agency!
Beginning in 2014, the penalty for individuals without "acceptable" health coverage starts @ $95 and quickly escalates to $2,085. The Joint Committee on Taxation estimates taxes will increase more than $400 billion over ten years to pay for the new healthcare law.
The IRS will reportedly add 16,500 new agents to enforce the healthcare mandates – adding to the difficulty, cost, and length of time it will take Americans to file their tax returns. Even if you "don't do your own taxes" I suggest that you take a minute just to skim the form to get an idea of why you will be spending extra money to pay your paid preparer to prove that you have the required healthcare insurance.
Source - Congressman Rodney Frelinghuysen
Tuesday, April 20, 2010
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