Posted on 07/22/2010 7:57:40 AM PDT by jmaroneps37
In order to finance Obama’s Ponzi – like healthcare scheme, small businesses will be required to “issue” 1099s to vendors like Staples, Home Depot and Pet Smart if they purchase more than $600 in goods from these firms.
In other words if a dog walker in the upper West Side of Manhattan buys $610.00 worth of “doggie treats” to make her day a bit easier, SHE will have to issue Pet Smart a 1099 at the end of the calendar year.
It’s not all bad news
While the choking tentacles of Obamacare are destroying the rest of America, a recent interpretation of the monstrous document shows its demands for an overwhelming amount of paperwork have the potential to bring the IRS to a grinding halt.
In 2012 Obama’s scheme will require businesses of all sizes, tax exempt organizations AND governmental agencies to file a 1009 when they purchase over $600.00 worth of goods from a vendor. In its best Big Brother-speak the scheme dictates, “If a self-employed individual makes numerous small purchases from an office supply store during a calendar year that total at least $600, the individual must issue a Form 1099 to the vendor and the IRS showing the exact amount of total purchases.”
This requirement will be especially “crippling” to small businesses according to The National Federation of Independent Businesses and will mean serious trouble for the IRS itself in the view of the Taxpayer Advocate (TA), an independent IRS sub agency designed to assist taxpayers.
IRS observers are saying the regulations will “trigger a paperwork avalanche at the IRS” which the Service is simply not equipped to handle…..
(Excerpt) Read more at collinsreport.net ...
Finally with the brakes completely off the water may finally be coming to a boil, and the American people may finally wake up in time to prevent us from sliding into Euro-weeniness.
I hope that cap-and-trade and shamnesty are passed as well.
Then we will have a full scale revolt on our hands.
Copies of 1099s in addition to another form, 1096 I believe, have to be filed with the IRS. A copy of the 1099 also has to be sent to each vendor. Maybe the Post Office did lobby for this provision, as this is going to require A LOT of stamps.
If you pass enough laws, you can find anybody guilty of something if the need arises.
How difficult would it be for me, as an individual, to generate a 1099?
send them ALL in...EVERY day...by snail mail.......>>>>>>
Right! Do not file electronically (via internet) and make it messy so a human has to process it...So it can’t be scanned in and digitized
So then, Lefties should hand-write them with their right-hand & Righties should use their left-hand. Nice.
:)
Make your 4s look like 9s and your 6s like 5s. Add middle initials to your name and make your SS number and income source unreadable by a scanner
and 10 bucks sez I bet it will be affirmative action hiring too.....
“”Copies of 1099s in addition to another form, 1096 I believe, have to be filed with the IRS. A copy of the 1099 also has to be sent to each vendor. Maybe the Post Office did lobby for this provision, as this is going to require A LOT of stamps.””
I can see them demanding that the 1099’s be electronically submitted..
Only a business I thought had to file. People don’t.
I thought the law was for businesses to report, not people.
“”How difficult would it be for me, as an individual, to generate a 1099?””
You can buy forms at Staples/Office Depot or other stationery stores - usually in a sheet of 3 plus Form 1096 for submitting the 1099’s. Instructions are provided on the 1096.
“How difficult would it be for me, as an individual, to generate a 1099?
“
Very easy. Get the PDF verison and fill it out on your computer. You can also print one out and hand write it. It has very little information on it.
Just means more civil servants - at our expense.
“”Make your 4s look like 9s and your 6s like 5s. Add middle initials to your name and make your SS number and income source unreadable by a scanner””
I’ve read that penalties will be pretty hefty for incomplete or incorrect forms so you can bet these would be labeled as such.
“”We need to find the rock down in DC this crawled out from under...and in who’s office on the Hill it sits....””
I read this morning that Congressman Dan Lundgren (R-CA) is seeking to have this requirement removed from the bill. He said it was one of the most stupid things he’s seen since he’s been in Congress.
It is. My bad, I thought you were talking about a business
“”I thought the law was for businesses to report””
That’s correct - for now at least. You don’t know what it will be when you wake up the morning it goes into effect!
“”anyone care to explain how 1099 for my suppliers pertains to health care?””
I thought someone else would jump in here - they put this provision in the healthcare bill so it would look like they were going to be collecting dollars to pay for some of the stupid bill. That simple - AND STUPID! Only problem is we aren’t as stupid as they think we are!!!
Do I have to be a business?
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