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Obamacare Individual Mandate IRS Tax Form: What It Could Look Like
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- Thursday, 01 November 2012 13:06
- Written by Chuck Justice
Despite Obamacare implementation being in chaos and the Health and Human Services (HHS) department withholding an avalanche of regulations until after the election, Americans needs to understand how much personal information they're going to be forced to provide. Because the law is so massive, HHS doesn't even know what the outcome will look like in a practical sense. Americans are now part of an enormous experiment that involves the most intimate part of their lives: health care. What individuals have to disclose to the government brings a new meaning to Big Brother.
Americans for Tax Reform (ATR) has extensively compiled the taxes in Obamacare. While Obama and Democrats have knowingly lied, stating they haven't raised taxes on anyone, Obamacare is riddled with them. Perhaps this is a side effect of never reading the law, but rather knowing what it stood for - the government taking over health care - and that was enough to get their support.
Here are some of the key points:
Starting in 2014, all Americans who file income tax returns must complete an additional IRS tax form. The new form requires 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”
Highlights from the Obamacare Individual Mandate Tax Compliance Form:
1. Determination of “qualifying” health insurance. Under the Affordable Care Act, most Americans must purchase health insurance deemed “qualified” by the Department of Health and Human Services (HHS) starting in 2014. Failure to comply with this mandate results in a tax penalty which must be paid to the IRS. The tax penalty ranges from $695 to $2085, or more, depending on the size of a family. The dollar amount grows over time and is tabulated on the form. Taxpayers must demonstrate that they obtained qualifying health insurance for each month of the year in order to avoid payment of this tax penalty. [See lines 12-13]
2. Disclosure of personal identifying health information. Every family that files a tax return (140 million households) will have to disclose whether or not they were covered by a qualifying plan, in which months they were covered, and what type of coverage they received. Tax filers must also divulge and disclose their personal health ID number, the nature of their health insurance, and other information from their health insurance card as further IRS regulations warrant. [See lines 3-4]
3. Exemptions from Individual Mandate: Prisoners, Undocumented Immigrants, Welfare Recipients. The form also determines which individuals are exempt from the Individual Mandate and non-compliance taxes. Classes of individuals who are exempt from the mandate include but are not limited to: those serving sentences in the federal penitentiary system; those persons not legally able to work in the U.S.; welfare recipients; and those qualifying for an HHS-granted religious exemption. [See lines 8-11]
4. IRS penalties and interest on unpaid mandate taxes. Because the Affordable Care Act’s individual mandate penalty is a tax, the IRS will be able to assess interest and non-criminal penalties on those families who will not or cannot pay the tax. The IRS will issue regular, periodic correspondence audits to these families to help them comply with their filing responsibilities.
The example PDF is located in the link above. Wake up, America. Obamacare obliterates the individual and puts the government between you and your doctor.
Chuck Justice is the editor-in-chief for Habledash.