Awesome

[Honu]

Originally Posted by brianwspencer

I quoted Sec 9002 above and laid out why I think you are wrong, which I certainly hope you are, because that would be absurd.

The way I read it, those whose employers pay more than $8K/yr for one employee or $23K/yr for employee + family, would be subject to a 40% tax on the premium paid ABOVE that amount.

But how would the government know what the employer paid in premium contributions? They would know because it will be included on the W-2, which is, by my reading, what Sec. 9002 says. I don't interpret that in any way to say that the employer contributions will be rolled into gross income (thereby making them taxable income for EVERYONE), but rather that they will be included on the W-2 as a piece of information relevant for tax purposes.

See what I'm saying with that? I hope I'm right, or I'll be right there with you blasting this....but I think I'm right on this one.

I hear ya and I hope you are right, but why would it be included on a taxable wage form if they werent going to tax it? Why does the government need to include it on a employees W2 form when Im sure the information is already available to them through the employer. It doesnt make sense that now after health care reform that the feds need to know. What is the purpose of this?
Dude Im so hoping I am wrong and you are right and I guess when we file our taxes for 2011 we will find out.