For those of you who have been following the Health Care debate, you should recognize the bill number in this latest fraudulent email blast beginning to hit everyone’s inbox. It’s HR3590. First it was death panels, now it’s a threat of the IRS coming after you for additional taxes as a result of any employer-based insurance contributions made on your behalf. The email refers every one to Thomas (the Library of Congress) where they can pull up an actual copy of the bill (you know, that bill that’s 906 pages in length). Most folks won’t go there and if they do, probably won’t even consider wading through 906 pages to find what’s being referenced. Those same folks may not know they can go one of two places to fact-check the claims made in the letter below. The first is SNOPES, and the second is FactCheck.org. Here are links to the relevant articles on those two services that refute claims made in the following letter:
So, now when one of your neighbors talks to you about receiving the following emails, or one or your email contacts forwards you a copy of the following email you’ll have the ammunition you’ll need to help them understand that this is yet another false claim being promulgated by the Republican misinformation and fear-mongering campaign.
Here’s a copy of the email:
Should you want to verify this, go to 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 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.