The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: ChanceIs who wrote (241578)	3/20/2010 3:16:18 PM
From: Reilly Diefenbach	Read Replies (3) of 306849

From the Ways and Means Committee Republican report on HR 3590 (The Healthcare Reform Bill): *Highlights of New IRS Authority* - IRS agents verify if you have “acceptable” health care coverage - IRS has the authority to fine you up to $2,250 or 2 percent of your income (whichever is greater) for failure to prove that you have purchased “minimum essential coverage” - IRS can confiscate your tax refund - IRS audits are likely to increase - IRS will need up to $10 billion to administer the new health care program this decade - IRS may need to hire as many as 16,500 additional auditors, agents and other employees to investigate and collect billions in new taxes from Americans - Nearly half of all these new individual mandate taxes will be paid by Americans earning less than 300 percent of poverty ($66,150 for a family of four)

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