Parenting

so is this true?

an email DH sent me that he was forwarded at work:

 

2011
W-2 Tax Forms--Surprise, surprise!
 


 



Should
you want to verify this, go to 
https://www.thomas.gov/ <https://www.thomas.gov/>, 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 to 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.

Why
am I sending you this? The same reason I hope you forward this to every single person in your address book. People have the right to know the truth because an election is coming in November. So vote intelligently, based on your
values. But also adjust your tax withholding, or increase your savings, so that you aren't surprised and put in a jam when your federal income taxes are due on April 15,
2012.

Warning No formatter is installed for the format bbhtml
This discussion has been closed.
Choose Another Board
Search Boards
"
"