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Banning styrofoam would have negative consequences for small businesses and consumers: http://t.co/Upjes6JZ2L
May 18, 2013 05:00 PM
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Cutting the Red Tape: @RepGarrett's SEC Accountability Act: http://t.co/dAMtRAWokI
May 18, 2013 04:30 PM
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New @simplertaxes project is a virtual suggestions box for the federal government: http://t.co/l1VmdjO2mE #RATEreform
May 18, 2013 03:00 PM
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Gov. Bob McDonnell fails Virginia taxpayers by signing his massive tax hike into law: http://t.co/8ENkqOlelO
May 18, 2013 02:30 PM
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The next European-style, nanny state ban? Styrofoam: http://t.co/Upjes6JZ2L
May 18, 2013 02:01 PM
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Virginia Republicans must protect taxpayers from Gov. McDonnell's $5.9 billion tax hike: http://t.co/8ENkqOlelO
May 18, 2013 01:30 PM
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1,700 days and counting since the first #KeystoneXL Pipeline proposal: http://t.co/xWYHWYGxkm
May 18, 2013 01:00 PM
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New bill from @RepGarrett aims to keep the SEC accountable for out-of-control regulations: http://t.co/dAMtRAWokI
May 18, 2013 12:30 PM
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Don't say they didn't warn you. Under Obamacare, the IRS will soon be given greater audit powers: http://t.co/Y3QQhdVmYX
May 18, 2013 12:01 PM
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Virginia Gov. Bob McDonnell cements his tax-hiking legacy with $5.9 billion transportation bill: http://t.co/8ENkqOlelO
May 18, 2013 11:30 AM
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140 Million Families Will Be Forced to Submit Obamacare Individual Mandate Compliance Forms to IRS
CBO estimates hours and hours of more paperwork for American taxpayers because of the Individual Mandate tax.
The Congressional Budget Office on Wednesday announced that six million American families will be forced to pay the Obamacare individual mandate non-compliance penalty tax.
The six million families who will be forced to pay the tax understates the true compliance burden of the looming Obamacare individual mandate scheduled to take effect in 2014:
- Every American required to file an income tax return must report to the IRS whether or not they have “qualifying” health insurance under Obamacare.
- Thus, this tax will not just impact the six million American families having to pay the tax, but the 140 million U.S. households which file an annual income tax return. Each of the 140 million households will be forced to complete and submit compliance forms to the IRS.
The compliance burden described above does not even take into account the other 19 new or higher taxes in the Obamacare law, which the IRS has determined for the Ways and Means Committee will increase tax preparation time by a collective 80 million hours per year.
The non-compliance penalty tax will hit middle-income Americans, a violation President Obama’s “firm pledge” not to raise “any form” of tax on families making less than $250,000 per year. There are at least seven Obamacare taxes that directly hit families making less than $250,000.
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