Tax Reform ATR believes that all consumed income should be taxed one time, at one low and flat rate. Link
Virginia Gov. Bob McDonnell cements his tax-hiking legacy with $5.9 billion transportation bill: http://t.co/8ENkqOlelO
taxreformer
The five worst tax hikes the IRS will handle under #Obamacare: http://t.co/lyzThNil3N
taxreformer
Portland City Council envisions life without styrofoam: http://t.co/Upjes6JZ2L
taxreformer
Submit your tax code suggestions to @simplertaxes at http://t.co/l1VmdjO2mE #RATEreform
taxreformer
The current tax code is a mess. Tell @simplertaxes you want reform: http://t.co/l1VmdjO2mE #RATEreform
taxreformer
CoGC: Portland Maine Nanny-Staters Work to Ban Styrofoam http://t.co/C2u4T6CeKy
taxreformer
IRS tax return preparation is a solution in search of a problem: http://t.co/2bFnKwVA02
taxreformer
.@GroverNorquist on IRS scandal: "This is an unprecedented level of corruption.": http://t.co/M0gV2GpQ9G
taxreformer
Portland, Maine: Nanny-staters work to ban styrofoam: http://t.co/Upjes6JZ2L
taxreformer
"Important pieces of the Obama agenda are all being administrated through the IRS" -@MDuppler: http://t.co/ZvMvMW9fRE
taxreformer
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.
As a service to the public, Americans for Tax Reform has released a projected version of this tax form to help families and tax specialists prepare for this additional filing requirement. Taxpayers may view the projected IRS form at www.ObamacareTaxForm.com or see below. On the form, lines 3-4 show where taxpayers will disclose their personal identifying health information.
Follow the authors on Twitter: @Ryanlellis and @JohnKartch
Download a PDF version of the form here.
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