The increasing tax burden of Obamacare is becoming more and more evident.
“140 Million Families Will Be Forced to Submit Obamacare Individual Mandate Compliance Forms to IRS,” according to Americans for Tax Reform.
The six million families who will be forced to pay the tax understates the true compliance burden of the looming Obamacare individual mandate scheduled to take effect in 2014:
- Every American required to file an income tax return must report to the IRS whether or not they have “qualifying” health insurance under Obamacare.
- Thus, this tax will not just impact the six million American families having to pay the tax, but the 140 million U.S. households which file an annual income tax return. Each of the 140 million households will be forced to complete and submit compliance forms to the IRS.
This report comes after revelations that it will take Americans nearly 80 million more hours to complete their tax forms and that nearly six million Americans will be forced to pay a tax penalty, all because of Obamacare.
Americans for Tax Reform also highlighted the “19 new or higher taxes in the Obamacare law.”