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Is there a new tax in ObamaCare on bank transactions?

Updated: 8/20/2019
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11y ago

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No. Just a rumor going around.

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11y ago
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Q: Is there a new tax in ObamaCare on bank transactions?
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Is a 1 percent transaction tax on bank transactions being proposed?

No, for some reason politicians and bankers don't like it.


Is it true beginning in 2013 you will have to pay a 3.8 tax to go to Obamacare?

No, that is another internet rumor. The vast majority of Americans will not pay any tax to be eligible for health reform. However, a very small number of wealthy taxpayers will be asked to pay a tax (some sources say 3.8%, some say less) on certain real estate transactions. I enclose a good article that explains the tax. I also enclose a link to the Affordable Care Act (Obamacare) so you can see for yourself that it contains no hidden taxes.


Will obamacare raise taxes?

No, this is a very common internet myth, but so far, independent analysis of the Affordable Care Act (often called "Obamacare") does not indicate it will raise taxes on most people. That said, there is one group of people (those who are very wealthy) who will be asked to pay a tax of about 3% on certain real estate transactions. This will not affect the vast majority of Americans.


Can i open new bank account with my tax refund?

Yes


What is PAN of the assessee?

PAN stands for Permanent Account Number, which is a unique 10-digit alphanumeric number issued by the Income Tax Department in India to individuals and entities. The PAN is used as a means of tracking financial transactions for tax purposes and is required for various financial activities such as opening a bank account, filing tax returns, and conducting business transactions.


Was ObamaCare taxation without representation?

No. The tax was enacted by the duly elected representatives of the people.


What is tax rev crs ecks on a bank statement?

It is a tax payment to the state of New Mexico, possibly for sales tax that was filed online.


Does the new ObamaCare Law have a provision in it that taxes the future sale of your house another 3.8 percent?

No, this is another of the many internet myths about the Affordable Care Act, called "Obamacare" by many people. There is no such tax on the future sale of homes. Snopes.com and other fact-checking sites have debunked this claim.


Do New Zealand citizens under the age of eighteen with no other income and a bank account need to do tax returns for bank interests?

No you don't have to complete a tax return but you are probably due a refund. The bank takes 33% of your interest payment (unless you have told the bank what your tax rate should be) and gives it to the IRD. since you have no other income this tax rate is too high. Too get your refund you will have to fill in a tax return.


What are some independent judiciary examples?

Chief Justice John Roberts although an admitted Republican, voted to uphold Obamacare because he believed that the tax was constitutional, although the majority of Republican's dislike Obamacare.


When the government shut down what did the law makers have trouble doing'?

In the beginning, the lawmakers were having trouble reaching an agreement about whether Democrats should have the additional wanted money for Obamacare. The two main reasons that led to the government shutting down was to defund Obamacare and repealing the medical device tax.


Where can one find Business Corporate online?

The Internal Revenue Service has a comprehensive strategy in place to combat abusive tax shelters and transactions. This strategy includes guidance on abusive transactions, regulations governing tax shelters, a hotline for taxpayers to use to report abusive technical transactions, and enforcement activity against abusive tax shelter promoters and investors.