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(OT) W2 tax forms 2011

  2011 W-2 Tax Forms    

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 you¹ll 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.  
Reply to
Fred the Plumber
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but but "he" promised us we'd pay no more taxes - could he be a liar? Nah, he just can't tell the truth and I'll bet that costs are off at least a factor of 1 if not more. Who's gonna be paying for that since we're gonna cover part of the costs for folks earning less than 88,000/year?

Reply to
ron

First, you didn't write that. SOmeone else did. You should indicate that as well as the source.

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Second, you broke copyright law by copying it without permission. It doesn't matter if it is on the internet. It is illegal to copy something with the permission of the write.

Third, your source is wrong:

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Rather, what is happening is that only high-cost insurance plans will be taxed (those over $27,500 in 2018) beginning in 2018. Part of the reason of putting the cost of the health insurance is that employees who are going to be taxed will have some warning, and so that employees may get a better sense of how much their employers are paying for their health insurance.

Jeff

Reply to
dr_jeff

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