Reading the information below is
unbelievable! Very important you read it as well so you can adjust your
2011 W-2 Tax Forms--Surprise,
If this doesn't get to you, then check
your pulse. You may be a flatline...
Should you want to verify this, go to
http://www.thomas.gov/, enter "HR 3590"
in the search box and look for "CRS
Summaries" (near the bottom of the page.) 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.
Fight organized crime! Re-elect no