The nation waits for the Supreme Court to announce the ruling about health-care. Many wonder how their ruling will change taxes?
Not only does the Supreme Court decide about the Affordable Care Act, but also taxes. How will their judgement change taxes?
The law must include tax cuts and increases. Even if the individual mandate is eliminated, the taxes would go on. Unless the Supreme Court eliminates the entire healthcare bill.
The mandate tax will be the punishment people would owe for not buying insurance. The High Court must decide whether it is considered a penalty or a tax.… Read more at 2011 Taxes.