[StBernard] 2011 W2-Forms

[Westley Annis]

If this doesn't make your blood boil.. 
                         

Make your own judgments based on your values, the ONLY reason I'm sending
this is to warn you to analyze your financial situation and adjust your
withholding accordingly.  

Should you want to verify this, go to http://www.thomas.gov/
<http://www.thomas.gov/>  <http://www.thomas.gov/ <http://www.thomas.gov/> >
, enter "HR 3590" in the search box and look for "CRS Summaries."  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 is 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 one.