Summary of all the taxes resulting form the decision of the #SCOTUS upholding #Obamacare http://t.co/I2Q5pZYE U.S. citizenship too complex
— U.S. Citizen Abroad (@USCitizenAbroad) June 30, 2012
HR Block excited: #obamacare will have "enormous ramifications for how Americans file taxes each year going forward" http://t.co/ShQsMkvi
— U.S. Citizen Abroad (@USCitizenAbroad) July 1, 2012
Oh my God. How is such bureaucracy possible? Run.
But wait, if the penalty for not obtaining health insurance is a tax, then the health insurance itself might be considered a form of taxation. Abroad, we cannot have health savings accounts in the US (correct me if I am wrong). Appearantly, the IRS does not count foreign mandatory health insurance payments as foreign tax for the Foreign Tax Credit (FTC). But in some countries, these are integrated into the income taxation system. Another form of discrimination against USPs abroad.