This is very disturbing.
From what I remember of the original “ZeroCare” bill, they attempted to require any and all payments for services in excess of $600.00 per year, to be reported by both the provider and recipient.
That was removed from the bill.
That provision would have turned a deductible business expense into paperwork nightmare.
Now, it seems to turn it from a deductible expense into a liability ?
Please set me straight.
From what I remember of the original “ZeroCare” bill, they attempted to require any and all payments for services in excess of $600.00 per year, to be reported by both the provider and recipient.
That was removed from the bill.
That provision would have turned a deductible business expense into paperwork nightmare.
Now, it seems to turn it from a deductible expense into a liability
Please set me straight.
I have no idea about this. What I was simply saying is that you can't just decide that you'll no longer be an employee whose taxes are collected by your employer, instead deciding to become a contractor and be issued a 1099.
The IRS has very strict rules and requirements to be a 1099 worker, and they will fine and penalize any employer and employee who doesn't conform to their requirements.
The IRS demands the employers become tax collectors simply because they want a constant stream of funds and do not want to deal with the tracking nightmare of well over 100 million 1099 employees.
Mark