Sunday, May 12, 2013

Obamacare: Taxpayers Must Report Personal Health ID Info to IRS

Americans for Tax Reform : Obamacare: Taxpayers Must Report Personal Health ID Info to IRS:
"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."

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