this is what happens when they have to pass it before they find out what is in it.
Why does it need 2/3 majority instead of a simple majority?
JUST REPEAL THE WHOLE DANG BILL!
Currently, 1099’s are due only for non-incorporated companies and individuals with a few exceptions for lawyers.
The new rules make 1099’s due for ANY purchase over $600.
This will be a burden on ANY company large or small as an informational form W-9 must be collected for many more vendors.
And they WON’T repeal it or lessen the burden. Time to drain the swamp! Can’t wait for November!
1) Take control of the House in November
2) Start repealing this crap
If I had to start a business tomorrow, this requirement alone would make me think twice.
I might buy $250,000 worth of Vendor “A’s” equipment. I have to pay that Vendor $250,000 plus sales tax. But I guess the IRS sees me depositing $250,000 from my Customer to pay Vendor is profit. Complete BS!
I’ll stop selling equipment to Customers and require them purchase directly charging only for labor to install. I have enough hard costs directly that keep profits next to zero.
How the heck to we send Mobil and other gas stations 1099’s for over $600.00 worth of gasoline in a year. Think about that one. What about Progress Energy and the water company? Insurance anyone? What about the grocery store? How about ___________________?
Buy more than $600 in office supplies from Staples for your home business - 1099.
Pay the utilities on your rental condo - 1099
Pay for repairs or buy furniture for rental property - you get the idea.
Nightmare.
I know it’s probably impossible, but I would like to know who put this in the bill in the first place.
If the Libs ultimately are successful in repealing this provision, wouldn’t that just be another strong indicator that the Obamacare individual mandate is not a “tax” as the DOJ is attempting to argue in court?
Communists win again.
The time for massive non-compliance is here.
I just started a home based business. My first order from one vendor was over 600 dollars.
I’ve been in business for 1 month and I already have 4 vendors that will get 1099’s. 3 of them are over seas. I wonder how that works.
I am leaning towards not dealing with the 1099’s at all.
Why would Republicans oppose this? Makes no sense.
Why do Democrats want records of purchases over $600? What is the average price of a firearm when you add in the background check, taxes and ammo?
Short term solution is a cash based business servicing individuals who don't have to report the 1099’s. But eventually they will find you guilty of something and haul you off to the gulag as an example to others..........
Senator Johans is a Republican, not a democrat. Nice try, Media!
They ought to just call it the “Tax Accountant Full Employment Act.”
My prediction is that the feds, in their infinite wisdom, will start requiring that income reported on a 1099 will have to be reported as a separate line item (pages and pages of itemization) by the recipient.
Ridiculous and crushingly burdensome?
Yes, that's why they'll do it.
Considering that Obama's Marxist head of Labor just got a provision passed that makes it easier for employees to sue their bosses over payroll disputes, I can't imagine why anyone would start or expand a business in the next three years.