Little-Acorn
11-02-2012, 05:05 PM
You asked for it, you got it.
Americans will be required to report their health information insurance information, etc. to the IRS starting in 2014 when Obamacare's mandate goes into effect. They will be required to fill out an additional form when doing their taxes, see below.
Now word yet on how much tax accountants will charge you to add this form, if you have someone doing your taxes.
I'm sure the IRS fully intends to keep this additional information secret for you, and not let it get abused.
You can trust them.
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http://www.atr.org/new-obamacare-tax-form-mandates-americans-a7285
New Obamacare Tax Form Mandates Americans Report Personal Health ID Info to IRS
Here's why the IRS will require Americans to disclose their personal health ID information starting in 2014
When Obamacare’s individual mandate takes effect in 2014, all Americans who file income tax returns must complete an additional IRS tax form. The new form will require disclosure of a taxpayer’s personal identifying health information in order to determine compliance with the Affordable Care Act’s individual mandate.
As confirmed by IRS testimony to the tax-writing House Committee on Ways and Means, “taxpayers will file their tax returns reporting their health insurance coverage, and/or making a payment”.
So why will the Obama IRS require your personal identifying health information?
Simply put, there is no way for the IRS to enforce Obamacare’s individual mandate without such an invasive reporting scheme. Every January, health insurance companies across America will send out tax documents to each insured individual. This tax document—a copy of which will be furnished to the IRS—must contain sufficient information for taxpayers to prove that they purchased qualifying health insurance under Obamacare.
This new tax information document must, at a minimum, contain: the name and health insurance identification number of the taxpayer; the name and tax identification number of the health insurance company; the number of months the taxpayer was covered by this insurance plan; and whether or not the plan was purchased in one of Obamacare’s “exchanges.”
This will involve millions of new tax documents landing in mailboxes across America every January, along with the usual raft of W-2s, 1099s, and 1098s. At tax time, the 140 million families who file a tax return will have to get acquainted with a brand new tax filing form. Six million of these families will end up paying Obamacare’s individual mandate non-compliance tax penalty.
Americans will be required to report their health information insurance information, etc. to the IRS starting in 2014 when Obamacare's mandate goes into effect. They will be required to fill out an additional form when doing their taxes, see below.
Now word yet on how much tax accountants will charge you to add this form, if you have someone doing your taxes.
I'm sure the IRS fully intends to keep this additional information secret for you, and not let it get abused.
You can trust them.
---------------------------------------------------
http://www.atr.org/new-obamacare-tax-form-mandates-americans-a7285
New Obamacare Tax Form Mandates Americans Report Personal Health ID Info to IRS
Here's why the IRS will require Americans to disclose their personal health ID information starting in 2014
When Obamacare’s individual mandate takes effect in 2014, all Americans who file income tax returns must complete an additional IRS tax form. The new form will require disclosure of a taxpayer’s personal identifying health information in order to determine compliance with the Affordable Care Act’s individual mandate.
As confirmed by IRS testimony to the tax-writing House Committee on Ways and Means, “taxpayers will file their tax returns reporting their health insurance coverage, and/or making a payment”.
So why will the Obama IRS require your personal identifying health information?
Simply put, there is no way for the IRS to enforce Obamacare’s individual mandate without such an invasive reporting scheme. Every January, health insurance companies across America will send out tax documents to each insured individual. This tax document—a copy of which will be furnished to the IRS—must contain sufficient information for taxpayers to prove that they purchased qualifying health insurance under Obamacare.
This new tax information document must, at a minimum, contain: the name and health insurance identification number of the taxpayer; the name and tax identification number of the health insurance company; the number of months the taxpayer was covered by this insurance plan; and whether or not the plan was purchased in one of Obamacare’s “exchanges.”
This will involve millions of new tax documents landing in mailboxes across America every January, along with the usual raft of W-2s, 1099s, and 1098s. At tax time, the 140 million families who file a tax return will have to get acquainted with a brand new tax filing form. Six million of these families will end up paying Obamacare’s individual mandate non-compliance tax penalty.