Restore America's Mission

That government of the people, by the people, for the people, shall not perish!

 

 

1099 Tax Reporting Requirement

The 1099 amendment is a provision that was added to the health care law to help pay for the overhaul. Many Democrats have joined Republicans in pushing for the repeal of this tax provision that imposes a huge information-reporting burden on small businesses. The provision requires businesses that spend a cumulative $600 or more with a vendor, supplier or contractor to file a 1099 form with the Internal Revenue Service identifying the recipient of the money. Businesses will also have to send copies of the form to their vendors, suppliers and contractors to report purchases of items like office equipment, food and bottled water, gasoline, lumber and plumbing supplies if payments to any vendor in the course of a year total at least $600.

Proponents to the measure say that the reporting requirement would increase compliance with tax laws, generating added tax payments that would help pay for the new health care coverage. Opponents of the amendment say that the provision goes too far and would be a burden on companies now exempt from reporting such spending, while also requiring an expansion of the IRS to keep track of the added paperwork.

Take action and voice your opinion now!

Do you support the 1099 Tax Reporting Requirement?

Go here to voice your opinion:
http://www.nwyc.com/s3web/1002033/capwiz.cfm?http://capwiz.com/nwyc...

Views: 3

Comment

You need to be a member of Restore America's Mission to add comments!

Join Restore America's Mission

Comment by Lee Norris on February 1, 2011 at 6:49pm
This is totally insane,, They cant track the paper work that is required now, Just another red tape government  control measure.

Events

Videos

  • Add Videos
  • View All

Investors Business Daily

Conservative Baltimore Examiner

Fuel Fix

© 2019   Created by David Wallace.   Powered by

Badges  |  Report an Issue  |  Terms of Service