Tuesday, September 11, 2012

The Tax Man Cometh

but perhaps not on time . . .

The folks at H&R Block have a request. They want to see the Obamacrap regs by April 30, 2013 in order to prepare for the 47 new tax provisions coming in 2014.

Kathy Pickering, a vice president at a policy affiliate of H&R Block, Kansas City, Mo., said today in Washington at a PPACA implementation hearing that her company would like to see the Internal Revenue Service (IRS) and other agencies complete the regulations and other documents that taxpayers need to figure out the 2014 PPACA rules by April 30, 2013.
 Subcommittee staffers note in the hearing announcement that PPACA contains at least 47 tax provisions. Provisions that will impose taxes on some individuals who fail to own coverage and some employers that fail to provide health benefits have attracted the most attention.
Other tax provisions include a new 3.8% tax on investment income, a new Medicare payroll tax, and a new health insurance premium subsidy.
Life Health Pro, "Give us PPACA Regs", Sept, 2012
Premium subsidy.
Yeah, like that's going to happen.
I thought all this was free and the only ones taxed to pay for this mess were the wealthy.
Pickering told lawmakers that H&R Block itself is a franchisor and communicates with the franchisees -- who are mostly small business owners -- daily.
Business owners try to set up their benefits packages at least 3 months before the end of the year, and open enrollment in a state PPACA Small Business Health Options Program (SHOP) -- a new, Web-based health insurance supermarket for small businesses -- is supposed to start Oct. 1, 2013, Pickering said.
"This means small businesses will need, at a minimum, 4 months to plan for 2014 and to determine if they intend to participate in a SHOP," Pickering said.
What's the over and under on DC meeting the requested deadline?

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