district50ablog.blogspot.com
Thanks Gman
2011 W-2 Tax Forms and Obamacare
Should you want to verify this, go to http://www.thomas.gov/, enter
"HR 3590" in the search box and look for "CRS Summaries." This is
what you'll find.
Title IX Revenue Provisions—Subtitle A: Revenue Offset "(Sec. 9002)
Requires employers to include in the W-2 form of each employee
the aggregate cost of applicable employer-sponsored group health
coverage that is excludable from the employee's gross income
(excluding the value of contributions to flexible spending
arrangements)."
Starting in 2011—next year—the W-2 tax form sent by your employer will
be increased to show the value of whatever health insurance you are
provided. It doesn't matter if you're retired. Your gross income
WILL go up by the amount of insurance your employer paid for. So
you’ll be required to pay taxes on a larger sum of money that you
actually received. Take the tax form you just finished for 2009 and
see what $15,000.00 or $20,000.00 additional gross income does to your
tax debt. That's what you'll pay next year. For many it puts you
into a
much higher bracket. This is how the government is going to buy
insurance for fifteen (15) percent that don't have insurance and it's
only part of the tax increases, but it's not really a "tax increase"
as such, it a redefinition of your taxable income.
Also, go to Kiplinger's and read about the thirteen (13) tax changes
for 2010 that could affect you.
Why am I sending you this? The same reason I hope you forward this to
every single person in your address book. People have the right to
know the truth because an election is coming in November. So vote
intelligently, based on your values. But also adjust your tax
withholding, or increase your savings, so that you aren't surprised
and put in a jam when your federal income taxes are due on April 15,
2012.
Fight organized crime! Re-elect no one.
district50ablog.blogspot.com
Thanks Gman
2011 W-2 Tax Forms and Obamacare
Should you want to verify this, go to http://www.thomas.gov/, enter
"HR 3590" in the search box and look for "CRS Summaries." This is
what you'll find.
Title IX Revenue Provisions—Subtitle A: Revenue Offset "(Sec. 9002)
Requires employers to include in the W-2 form of each employee
the aggregate cost of applicable employer-sponsored group health
coverage that is excludable from the employee's gross income
(excluding the value of contributions to flexible spending
arrangements)."
Starting in 2011—next year—the W-2 tax form sent by your employer will
be increased to show the value of whatever health insurance you are
provided. It doesn't matter if you're retired. Your gross income
WILL go up by the amount of insurance your employer paid for. So
you’ll be required to pay taxes on a larger sum of money that you
actually received. Take the tax form you just finished for 2009 and
see what $15,000.00 or $20,000.00 additional gross income does to your
tax debt. That's what you'll pay next year. For many it puts you
into a
much higher bracket. This is how the government is going to buy
insurance for fifteen (15) percent that don't have insurance and it's
only part of the tax increases, but it's not really a "tax increase"
as such, it a redefinition of your taxable income.
Also, go to Kiplinger's and read about the thirteen (13) tax changes
for 2010 that could affect you.
Why am I sending you this? The same reason I hope you forward this to
every single person in your address book. People have the right to
know the truth because an election is coming in November. So vote
intelligently, based on your values. But also adjust your tax
withholding, or increase your savings, so that you aren't surprised
and put in a jam when your federal income taxes are due on April 15,
2012.
Fight organized crime! Re-elect no one.
district50ablog.blogspot.com
