IRS Obamacare Power of the Day: HSA Seizures

Posted by Adam Radman and Ryan Ellis on Wednesday, July 31st, 2013, 11:58 AM PERMALINK

Throughout the summer, Americans for Tax Reform will be highlighting the most outrageous new powers that the IRS will have under the Obamacare law.  According to a report from GAO, the IRS is tasked with nearly four dozen new powers under that law.  Each day, one will be selected for a brief review.

Obamacare raises the surtax on non-health HSA withdrawals from 10% to 20%.  As a result, a non-health withdrawal from an HSA could carry an effective tax rate of over 60%.

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