Deal or no deal, ObamaCare taxes poised to hit next monthSubmitted by emalvini on Sun, 12/09/2012 - 14:52
Deal or no deal, ObamaCare taxes poised to hit next month
Published December 08, 2012
Even if lawmakers somehow stop the Bush-era tax rates from expiring, taxes are still expected to rise on Jan. 1 -- thanks to a trio of new fees tied to the federal health care overhaul.
The IRS this past week published rules for some of the first major taxes meant to help pay for President Obama’s massive insurance coverage expansion. Together, they will raise investment and income taxes on top earners and impose a separate -- and controversial -- tax on medical devices.