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Invading Your Privacy: The New ObamaCare Tax Form

TXSTAR Wrote: Nov 02, 2012 10:43 AM
Until the expiration of 2002 and 2003 tax relief, personal income tax rates rise on January 1, 2013 (10% bracket rises to 15%; 25% to 28%; 33% to 36%; 35% to 39.6%, higher taxes on marriage and family, child tax credit cut from $1,000 to $500; middle class death tax currently 35% goes up to 55%; higher tax rates on savers and investors (capital gains will rise from 15% to 23.8% and top dividends will rise from 15% to 43.4%). With the Health Care Act Taxes which have gone into effect, the tanning tax, the medicine cabinet tax, the HSA withdrawal tax, W-2 health insurance reporting and the economic substance doctrine tax. January 1, additional taxes – Medical Device Tax, Medicare Payroll Tax, Medical Itemized Deduction from 7.55 to 10%..

We've been talking about ObamaTax all year long, but here is a grim reality. ObamaCare is going to happen by law unless it is stopped and at this point, it doesn't look like that will happen. Americans for Tax Reform is giving us a look at the new ObamaCare tax form. On top of being long and complicated, the form requires individuals to submit personal health information to IRS agents.

When Obamacare’s individual mandate takes effect in 2014, all Americans who file income tax returns must complete an additional IRS tax form. The new form will require...