1. Starting in 2011, (next year folks), your W-2 tax form sent by
your employer will be increased to show the value of whatever
health insurance you are given by the company. It does not
matter if that's a private concern or governmental body of some
sort.
If you're retired? So what... your gross will go up by the
amount of insurance you get.
You will be required to pay taxes on a large sum of money that
you have never seen. Take your tax form you just finished and
see what $15,000 or $20,000 additional gross does to your tax
debt. That's what you'll pay next year.
For many, it also puts you into a new higher bracket so it's
even worse.
This is how the government is going to buy insurance for the15%
that don't have insurance and it's only part of the tax
increases.
Not believing this??? Here is a research of the summaries.....
On page 25 of 29: TITLE IX REVENUE PROVISIONS- SUBTITLE A:
REVENUE OFFSET PROVISIONS-(sec. 9001, as modified by sec.
10901) 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
employees gross income."
your employer will be increased to show the value of whatever
health insurance you are given by the company. It does not
matter if that's a private concern or governmental body of some
sort.
If you're retired? So what... your gross will go up by the
amount of insurance you get.
You will be required to pay taxes on a large sum of money that
you have never seen. Take your tax form you just finished and
see what $15,000 or $20,000 additional gross does to your tax
debt. That's what you'll pay next year.
For many, it also puts you into a new higher bracket so it's
even worse.
This is how the government is going to buy insurance for the15%
that don't have insurance and it's only part of the tax
increases.
Not believing this??? Here is a research of the summaries.....
On page 25 of 29: TITLE IX REVENUE PROVISIONS- SUBTITLE A:
REVENUE OFFSET PROVISIONS-(sec. 9001, as modified by sec.
10901) 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
employees gross income."