Should you want to verify this, go to http://www.thomas.gov/, click on
Bill Number, enter "HR 3590" in the search box and look for "CRS
Summaries.." This is what you'll find:
Title IX Revenue Provisions—Subtitle A: Revenue Offset
"(Sec. 9002) Requires employers to include in the W-2 form of each
employee the aggregate cost of applicable employer-sponsored group health
coverage that is excludable from the employee's gross income (excluding the
value of contributions to flexible spending arrangements)."
Starting in 2011—next year—the W-2 tax form sent by your employer will
be increased to show the value of whatever health insurance you are provided.
It doesn't matter if you're retired. Your gross income WILL go up by
the amount of insurance your employer paid for. So you’ll be required
to pay taxes on a larger sum of money that you actually received. Take
the tax form you just finished for 2009 and see what $15,000.00 or
$20,000.00 additional gross income does your tax debt. That's what
you'll pay next year. For many it puts you into a much higher bracket.
This is how the government is going to buy insurance for
fifteen (15) percent that don't have insurance and it's only part of
the tax increases, but it's not really a "tax increase" as such, it a
redefinition of your taxable income.
Also, go to Kiplinger's and read about the thirteen (13) tax changes
for 2010 that could affect you.
Fight organized crime! Re-elect no one.
- Richard Sellers
- elitesellers@gmail.com
- Website
- www.arrowheadlifestyles.com
- Office Phone
- (909) 336-2131
- Cell Phone
- (909) 553-1897
- Fax
- (909) 336-2500
- Address
- 27206 Hwy 189, Blue Jay, CA, 92317
- Description
- "Life isn't about how to survive the storm, but how to dance in the rain."
- Real Estate Broker, DRE CA License #01148405
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