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Author: telegraph Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 748826  
Subject: A hidden part of ObamaKare Date: 10/28/2013 8:12 PM
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You know someone has to pay for all the weenies on ObamaKare....and you'll find out in 2014 when the massive new income taxes hit.

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Did you know? The new and improved W-2 form that will be used at the end of this year to report your income?



"Reporting on the Form W-2
The value of the health care coverage will be reported in Box 12 of the Form W-2, with Code DD to identify the amount. There is no reporting on the Form W-3 of the total of these amounts for all the employer’s employees."

http://www.irs.gov/uac/Form-W-2-Reporting-of-Employer-Sponso...


That line DD also includes the coverage for spouse/family. It might be a big number typically over $10,000

Now..in 2013 it is just for 'informational' purposes.


But why put it on a W2 form? The income tax form!..

Yepper,it won't be long..maybe even 2014, before that 'income' to you is going to be TAXABLE!....yes...finally the government will get to tax that income to you you get as a 'benefit'!.....

They already tax your vacation pay, right? That's a benefit. They tax your 'holiday' pay even though you don't work them,right?

Well, just think of the pot of cash out there!..>Why should some people have to pay their health care costs out of their after tax income when others don't?

Remember, it's all about fairness.

Going to be interesting....


t.
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