}
The heart of the wise inclines to the right, but the heart of the fool to the left. -- Ecclesiastes 10:2 (NIV)

When the people fear their government, there is tyranny; when the government fears the people, there is liberty. Thomas Jefferson

Liberalism: Ideas so good, you have to be forced to accept them.

''ARE YOU AN AMERICAN --or a LIBERAL.''


Friday, September 21, 2012

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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