Home > Uncategorized > 28 Tax Changes Resulting From The Federal Health Care Law: A List That You Never Heard About!

28 Tax Changes Resulting From The Federal Health Care Law: A List That You Never Heard About!

August 12, 2012

An article (Supreme Court Upholds Health Care Law) in the Journal of Accountancy (August 2012) identifies 28 tax provision changes resulting from the federal health care law that was recently upheld by the U.S. Supreme Court.  I don’t believe I have heard even one elected representative talking about these. Of course few of you will want to read about the details of the changes – I note that several of the changes appear to have nothing to do with the purpose of the health care legislation, but you decide for yourself.

Dave Tate, Esq. (San Francisco)


Listing the changes according to article heading:

Premium-assistance credit (Sec. 36B).

Small business tax credit (Sec. 45R).

Tax-exempt health insurers.

Reporting requirements (Sec. 6055).

Medical care itemized deductions threshold (Sec. 213).

Cafeteria plans (Sec. 125).

Additional hospital insurance tax on high-income taxpayers (Sec. 3101).

Employer responsibility (Sec. 4980H).

Adult dependent insurance coverage.

Health flexible spending arrangements (FSAs) (Sec. 125(i)).

Expansion of adoption credit, adoption assistance programs.

Medicare tax on investment income (Sec. 1411).

Codification of economic-substance doctrine (Sec. 7701(o)).

Fees on health plans (Sec. 4375).

Excise tax on high-cost employer plans (Sec. 49801).

Tax on health savings account (HSA) distributions (Sec. 223).

Tax on indoor tanning services (Sec. 5000B).

SIMPLE cafeteria plans for small business (Sec. 125).

Charitable hospitals (Secs. 501(r) and 6033(b)(15)).

Information reporting (Sec. 6051(a)(14)).

Return information disclosure (Sec. 6103).

Annual fee on pharmaceutical manufacturers and importers.

Excise tax on medical device manufacturers (Sec. 4191).

Change to cellulosic biofuel producer credit (Sec. 40).

Deductions for federal subsidies for retiree prescription plans (Sec. 139A).

restrictions on use of HSA and FSA funds (Sec. 223).

Time for payment of corporate estimated taxes for 2014.

Expanded 1099 reporting.

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