Coming in 2014: Taypayers Must Report Health Information to IRS
Another layer of the onion that is Obamacare has been peeled off.Americans for Tax Reform is reporting that starting in 2014 each taxpayer will have yet another form to fill out for the IRS. Taxpayers will have to file their personal health ID information, confirming they meet the mandates of the program and are carrying health insurance. Here’s more from ATR’s report:
“Simply put, there is no way for the IRS to enforce Obamacare’s individual mandate without such an invasive reporting scheme. Every January, health insurance companies across America will send out tax documents to each insured individual. This tax document—a copy of which will be furnished to the IRS—must contain sufficient information for taxpayers to prove that they purchased qualifying health insurance under Obamacare”.
This new tax information document must, at a minimum, contain: the name and health insurance identification number of the taxpayer; the name and tax identification number of the health insurance company; the number of months the taxpayer was covered by this insurance plan; and whether or not the plan was purchased in one of Obamacare’s “exchanges.”
To see the actual form click on the button below.