On March 23, 2010, President Obama signed into law H.R. 3590, the Patient Protection and Affordable Care Act (PPAC). A “follow on” bill, H.R. 4872, the Health Care and Education Reconciliation Act (HCERA) of 2010 modified the PPAC and adds a number of tax increases. President Obama signed H.R. 4872 into law on March 30, 2010, completing the Congressional overhaul of the U.S. health care system.
Many of the important provisions and all of the tax increases (except the 10% tax on indoor tanning services) take effect in 2013 and later. As a result, it may be several years before their real impact is felt.
The Act is the most significant domestic policy legislation passed in the last 40 years. It imposes new compliance obligations on businesses and increases tax and other costs for both businesses and individuals. Wipfli LLP can provide a wide range of services to help you deal with these changes, ensure that you are in compliance with the new law, and help you manage the resulting tax implications.
Length: 2 pages (PDF 1027 kB)