Even if Obamacare hasn't altered your insurance coverage, it will affect your taxes.
The new healthcare law brings the largest set of tax law changes this country has seen in more than 20 years.
According to the Government Accountability Office, the IRS must implement a total 47 statutory provisions under Obamacare. And Obamacare's $1 trillion in total tax increases will hit drug companies, Health Savings Accounts, health insurers, employer-based health insurance, and more.
The administration says these taxes are absolutely essential to fund Obamacare.
"Revenue provisions contained in the legislation are designed to generate $438 billion to help pay for the overall cost of health care reform," according to the Treasury Inspector General.
The GAO cited this as a "massive undertaking" that will also involve "extensive coordination" across "multiple agencies and external partners."
[Even better – American citizens are expected to entrust the bulk of this "massive undertaking" to the recently slimed Internal Revenue Service (IRS). Last month, despite the release of damning emails from her account, Director of the IRS Exempt Organizations division Lois Lerner retired with full pension and benefits.]
So what are these provisions, and how will they affect you?
The 47 Obamacare Tax Changes
While some of the Obamacare taxes have already been put in place, there are seven more that will kick into effect Jan. 1, 2014.
Among the ones that have already gone into effect are a surtax on investment income – individuals making more than $200,000 (or couples grossing over $250,000) must pay a new 3.8% tax on income from investments, an increased threshold for medical deductions, and a 10% tax on tanning services.
Tax changes on deck include a "high-cost health plan tax" in 2018, and an "insurer tax" in 2014.
Here are three provisions that could prove to be the most "taxing" on your wallet: