IRS: Compliance Burden for Obamacare Individual Mandate Tax Totals 7.5 Million Hours Each Year
The IRS today released its final rule on the Obamacare individual mandate non-compliance penalty tax. Key numbers for taxpayers:
7.5 million hours: Taxpayers will be forced to spend a total of 7.5 million hours each year complying with the new tax.
30 Minutes: Taxpayers will be forced to spend up to 30 additional minutes filling out paperwork each year, just for this one new tax.
63: The number of times the final rule uses the Orwellian term “Shared Responsibility Payments” to describe what is actually a tax.
Americans for Tax Reform takes a look back at well-known “Shared Responsibility Payments” quotations throughout history: