The Internal Revenue Service is now in the process of hiring an additional 6,500 agents and staff to help ensure that the new Obamacare taxes are able to be administered. The scores of new federal mandates and about 21 different taxes total about $400 billion in tax increases.
All of these agents will not only have to review tax returns that were already filed, but will also have to review health insurance plans that taxpayers will now have to report to ensure the plans are in compliance with the standards imposed by the government.
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I’ve said it before, and I’ll say it again: Now is the time to plan your estate and your taxes to ensure that you are ready for these taxes as they develop in the very near future.