Monday, May 13, 2013

The First Obamacare Tax That Went Into Effect

Slipped into the bill by Sen. Harry Reid (D-Nev.) behind closed doors in the middle of the night, the Obamacare 10 Percent Excise Tax on Indoor Tanning replaced the planned Obamacare "Botax" on cosmetic surgery has been in effect since July 2010.

Industry estimates from the Indoor Tanning Association show that 30 million Americans visit an indoor tanning facility in a given year, and over 50 percent of salon owners are women.  There is no exception granted for those making less than $250,000.

Of course, the tanning tax is just the start, Obamacare taxes will eventually impact everyone. It is estimated that Obamacare will result in more than 20 new taxes.

Here's the latest news on that tax:
According to a Treasury Inspector General for Tax Administration report, the Obama IRS didn't bother to issue compliance guidelines until three quarterly filing deadlines had passed:  "By the time [IRS] notices were issued, tanning excise tax returns had been due for three quarters." 

I just can't wait for 2014 when the Obamacare tsunami of taxes and regulations kicks in. The BIG question will be is if headaches caused by Obamacare will be covered by Obamacare.

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