The Tax Man Cometh To Enforce The Health Care Reform Law
Here it is:
WASHINGTON (AP) — The Supreme Court’s decision to uphold most of President Barack Obama’s health care law will come home to roost for most taxpayers in about 2½ years, when they’ll have to start providing proof on their tax returns that they have health insurance.
That scenario puts the Internal Revenue Service at the center of the debate, renewing questions about whether the agency is capable of policing the health care decisions of millions of people in the United States while also collecting the taxes needed to run the federal government.
Under the law, the IRS will provide tax breaks and incentives to help pay for health insurance and impose penalties on some people who don’t buy coverage and on some businesses that don’t offer it to employees.
The changes will require new regulations, forms and publications, new computer programs and a big new outreach program to explain it all to taxpayers and tax professionals. Businesses that don’t claim an exemption will have to prove they offer health insurance to employees.
Yeah, in 2 1/2 years. Meaning there is a lot all of us can work on and get done, across the board, prior to the blessed event.
Even take care of our health by eating right and starting something new to ‘buck the economy’ and hopefully find creative solutions to put more money on our balance sheets.
BTW – A lot of the arguments and battles were about the laws impending effects. Try 2 to 3 years? What sort of changes do you think they could make to promote even more positive change for us all in that time?
Think about it.