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Exactly who was to blame for 1099 reporting rule in Obamacare bill?
Posted on 02/03/2011 1:04:12 AM PST by gimmebackmyconstitution
I have been searching for the origin of the IRS 1099 reporting requirement in the Obamacare bill. Can anyone shed some light on who specifically is to blame?
TOPICS: Business/Economy; Government; Health/Medicine; Politics
KEYWORDS: 1099
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To: gimmebackmyconstitution
Think not only of the cost to businesses to issue 1099s, but also the cost to businesses like Staples, Office Max, Sam's Club and Costco who will receive and have to process perhaps millions of 1099 forms and reconcile them to their income not to mention the number of new IRS workers that will be needed to process all these 1099s on a federal level.
I believe the reason this provision was added to Obamacare was to create a phony source of new tax revenue from stepped up enforcement to pay for its cost. However, I also think it is possible that someone in the bowels of Washington saw this as a first step to instituting a VAT.
41
posted on
02/03/2011 8:14:38 AM PST
by
The Great RJ
(The Bill of Rights: Another bill members of Congress haven't read.)
Comment #42 Removed by Moderator
To: MattZegna
It's not much of a paperwork hassle. Sure it's not, so long as your company doesn't do more than $600 a year in business with any one person or firm.
(Which is to say it's a huge hassle)
Comment #44 Removed by Moderator
To: MattZegna
So now you are shilling for the elimination of cash. Several gas stations in my area charge less for cash transactions. Why should I give the up to comply with 0care’s stupid provision.
45
posted on
02/03/2011 8:26:21 AM PST
by
mad_as_he$$
(V for Vendetta.)
To: MattZegna
Yeah, unless the person did business as a partnership, or LLC, or Limited Partnership, or corporation or any other form of organization other than sole proprietorship.
To: gimmebackmyconstitution
47
posted on
02/03/2011 8:29:04 AM PST
by
Fundamentally Fair
(Pictionary at the Rorschach's tonight!)
To: saganite
Bush’s fault, and Sarah Palin’s, too.
48
posted on
02/03/2011 8:29:27 AM PST
by
Lurker
(The avalanche has begun. The pebbles no longer have a vote.)
Comment #49 Removed by Moderator
To: MattZegna
50
posted on
02/03/2011 8:51:28 AM PST
by
xone
To: MattZegna
1099’s have nothing to do with tax rates; they're required to be filed wholly independently of whether the recipient is in a low bracket, high bracket, or pays no taxes at all.
Comment #52 Removed by Moderator
To: MattZegna
nOOb, nOOb, nOOb.
How about we agitate against it anyway?
Seems lame to scream about a policy “overall” but not to fight over particulars?
That thing was thrown as a giveaway.
Fight it and the whole enchilada
53
posted on
02/03/2011 9:16:43 AM PST
by
Vendome
(Don't take life so seriously..... You won't live through it anyway.)
To: MattZegna
“And thanks for not insulting me like so many others are here. “
I might have, if you hadn’t been able to provide evidence. what you provided was the instructions for form 1099MISC, and a statement of intent by the commissioner of what would be done when the new law takes effect. Who knows iof that will happen?
The requirement of the information reporting on 1099MISC blows away the fiction that our tax system is one of “voluntary compliance.”
To: MattZegna
So, let me pose this question to you about your non-opposition to the 1099.....Say you had 10-20 gold 1 ounce coins you’ve purchased over the years with after-tax money. You want to sell some of them. The dealer that buys them from you gives you a 1099 for each one. He doesn’t give you a 1099 interest form, he gives you a form for the whole damn amount, regardless of what you paid for them and with what. Still have no opposition to it?
55
posted on
02/03/2011 9:41:37 AM PST
by
Gaffer
To: gimmebackmyconstitution
The health care bill has been ruled unconstitutional so the 1099 provision is also null and void due the lack of a severability clause in the original bill
56
posted on
02/03/2011 10:05:52 AM PST
by
rdcbn
To: rdcbn
Thank you to those who attempted to answer my question. I have scoured the web for the answer, and only return references to it being “snuck in at the last minute” by unnamed individuals.
I understand that the senate finance committee worked on this, and I have reviewed the committee minutes but can't find source. I suspect Max Baucus is likely responsible. If anyone can cite a source for the specific individual who proposed this part of the bill, I would be most appreciative.
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