1099 TAX CHANGE in Healthcare Bill from HELL

[KissMy]

CNN - Health care law's massive, hidden tax change

The health reform law is threatening to swamp U.S. businesses with a flood of new tax paperwork.

Section 9006 of the health care bill mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.

The stealth change radically alters the nature of 1099s and means businesses will have to issue millions of new tax documents each year.

Right now, the IRS Form 1099 is used to document income for individual workers other than wages and salaries. Freelancers receive them each year from their clients, and businesses issue them to the independent contractors they hire.

But under the new rules, if a freelance designer buys a new iMac from the Apple Store, they'll have to send Apple a 1099. A laundromat that buys soap each week from a local distributor will have to send the supplier a 1099 at the end of the year tallying up their purchases.

The bill makes two key changes to how 1099s are used. First, it expands their scope by using them to track payments not only for services but also for tangible goods. Plus, it requires that 1099s be issued not just to individuals, but also to corporations.

Taken together, the two seemingly small changes will require millions of additional forms to be sent out.

"It's a pretty heavy administrative burden," particularly for small businesses without large in-house accounting staffs, says Bill Rys, tax counsel for the National Federation of Independent Businesses.

Eliminating the goods exemption could launch an avalanche of paperwork, he says: "If you cater a lunch for other businesses every Wednesday, say, that's a lot of information to keep track of throughout the year."

The paper trail - Why did these tax code revisions get included in a health-care reform bill? Welcome to Washington. The idea seems to be that using 1099 forms to capture unreported income will generate more government revenue and help offset the cost of the health bill.

WOW!!! There is absolutly no way a small business will survive this. Can you imagine having to 1099 every store you shop at all year. 1099 every utility, every service plus every temp worker. Then every one of your customers will have to 1099 you. This is a communistic nightmare. I will close down my business for sure before I do this. More jobs are gone for sure.

DEMOCRATS ARE EVIL RETARDS. FUCK THEM ALL!!!!!!!!!!!!!!!!!!!!!!!!

 

[Gremlin-USA]

CNN - Health care law's massive, hidden tax change

The health reform law is threatening to swamp U.S. businesses with a flood of new tax paperwork.

Section 9006 of the health care bill mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.

The stealth change radically alters the nature of 1099s and means businesses will have to issue millions of new tax documents each year.

Right now, the IRS Form 1099 is used to document income for individual workers other than wages and salaries. Freelancers receive them each year from their clients, and businesses issue them to the independent contractors they hire.

But under the new rules, if a freelance designer buys a new iMac from the Apple Store, they'll have to send Apple a 1099. A laundromat that buys soap each week from a local distributor will have to send the supplier a 1099 at the end of the year tallying up their purchases.

The bill makes two key changes to how 1099s are used. First, it expands their scope by using them to track payments not only for services but also for tangible goods. Plus, it requires that 1099s be issued not just to individuals, but also to corporations.

Taken together, the two seemingly small changes will require millions of additional forms to be sent out.

"It's a pretty heavy administrative burden," particularly for small businesses without large in-house accounting staffs, says Bill Rys, tax counsel for the National Federation of Independent Businesses.

Eliminating the goods exemption could launch an avalanche of paperwork, he says: "If you cater a lunch for other businesses every Wednesday, say, that's a lot of information to keep track of throughout the year."

The paper trail - Why did these tax code revisions get included in a health-care reform bill? Welcome to Washington. The idea seems to be that using 1099 forms to capture unreported income will generate more government revenue and help offset the cost of the health bill.

WOW!!! There is absolutly no way a small business will survive this. Can you imagine having to 1099 every store you shop at all year. 1099 every utility, every service plus every temp worker. Then every one of your customers will have to 1099 you. This is a communistic nightmare. I will close down my business for sure before I do this. More jobs are gone for sure.

DEMOCRATS ARE EVIL RETARDS. FUCK THEM ALL!!!!!!!!!!!!!!!!!!!!!!!!

When the Government starts paying me to be a Tax Collector (I charge 125.00 an hour), then I will send out 1099's, until they pay my salary then screw them.


.

 

[WillowTree]

It's been one gianormous cluster F**k since the demonRats took over, and they ain't done with you yet. the lying weasly bastards.

 

[Oddball]

CNN - Health care law's massive, hidden tax change

The health reform law is threatening to swamp U.S. businesses with a flood of new tax paperwork.

Section 9006 of the health care bill mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.

The stealth change radically alters the nature of 1099s and means businesses will have to issue millions of new tax documents each year.

Right now, the IRS Form 1099 is used to document income for individual workers other than wages and salaries. Freelancers receive them each year from their clients, and businesses issue them to the independent contractors they hire.

But under the new rules, if a freelance designer buys a new iMac from the Apple Store, they'll have to send Apple a 1099. A laundromat that buys soap each week from a local distributor will have to send the supplier a 1099 at the end of the year tallying up their purchases.

The bill makes two key changes to how 1099s are used. First, it expands their scope by using them to track payments not only for services but also for tangible goods. Plus, it requires that 1099s be issued not just to individuals, but also to corporations.

Taken together, the two seemingly small changes will require millions of additional forms to be sent out.

"It's a pretty heavy administrative burden," particularly for small businesses without large in-house accounting staffs, says Bill Rys, tax counsel for the National Federation of Independent Businesses.

Eliminating the goods exemption could launch an avalanche of paperwork, he says: "If you cater a lunch for other businesses every Wednesday, say, that's a lot of information to keep track of throughout the year."

The paper trail - Why did these tax code revisions get included in a health-care reform bill? Welcome to Washington. The idea seems to be that using 1099 forms to capture unreported income will generate more government revenue and help offset the cost of the health bill.

WOW!!! There is absolutly no way a small business will survive this. Can you imagine having to 1099 every store you shop at all year. 1099 every utility, every service plus every temp worker. Then every one of your customers will have to 1099 you. This is a communistic nightmare. I will close down my business for sure before I do this. More jobs are gone for sure.

DEMOCRATS ARE EVIL RETARDS. FUCK THEM ALL!!!!!!!!!!!!!!!!!!!!!!!!

Two words:

Tax

Revolt

 

[KissMy]

When the Government starts paying me to be a Tax Collector (I charge 125.00 an hour), then I will send out 1099's, until they pay my salary then screw them.

These assholes will not compensate us for this mountain of paperwork. They are the IRS & will likely jail business owners for incomplete paperwork. We need to start transacting in cash & gold with no receipts so they can't tax shit.

 

[Meister]

This kind of stuff shouldn't be a surprise. You have to have a lot of buraucracy to fill 2,000 plus pages in a Bill.
This is Bill is going to to going to lead to UHC....there is no doubt about it. Hopfully we will be able to peal back a few of the layers to slow it down.

 

[The T]

CNN - Health care law's massive, hidden tax change

The health reform law is threatening to swamp U.S. businesses with a flood of new tax paperwork.

Section 9006 of the health care bill mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.

The stealth change radically alters the nature of 1099s and means businesses will have to issue millions of new tax documents each year.

Right now, the IRS Form 1099 is used to document income for individual workers other than wages and salaries. Freelancers receive them each year from their clients, and businesses issue them to the independent contractors they hire.

But under the new rules, if a freelance designer buys a new iMac from the Apple Store, they'll have to send Apple a 1099. A laundromat that buys soap each week from a local distributor will have to send the supplier a 1099 at the end of the year tallying up their purchases.

The bill makes two key changes to how 1099s are used. First, it expands their scope by using them to track payments not only for services but also for tangible goods. Plus, it requires that 1099s be issued not just to individuals, but also to corporations.

Taken together, the two seemingly small changes will require millions of additional forms to be sent out.

"It's a pretty heavy administrative burden," particularly for small businesses without large in-house accounting staffs, says Bill Rys, tax counsel for the National Federation of Independent Businesses.

Eliminating the goods exemption could launch an avalanche of paperwork, he says: "If you cater a lunch for other businesses every Wednesday, say, that's a lot of information to keep track of throughout the year."

The paper trail - Why did these tax code revisions get included in a health-care reform bill? Welcome to Washington. The idea seems to be that using 1099 forms to capture unreported income will generate more government revenue and help offset the cost of the health bill.

WOW!!! There is absolutly no way a small business will survive this. Can you imagine having to 1099 every store you shop at all year. 1099 every utility, every service plus every temp worker. Then every one of your customers will have to 1099 you. This is a communistic nightmare. I will close down my business for sure before I do this. More jobs are gone for sure.

DEMOCRATS ARE EVIL RETARDS. FUCK THEM ALL!!!!!!!!!!!!!!!!!!!!!!!!

When the Government starts paying me to be a Tax Collector (I charge 125.00 an hour), then I will send out 1099's, until they pay my salary then screw them.


.

That's OK We're a High Tech Workcenter...we charge $250/Hour and would love to charge these idiots to do their job...

 

[FA_Q2]

Come on crazy RW loons. This is a JOB CREATION move. All those companies will hire millions of people to take care of all that paperwork and all of our job problems will go away. Praise BO and the insight he had to put this in the bill.

The paper trail - Why did these tax code revisions get included in a health-care reform bill? Welcome to Washington. The idea seems to be that using 1099 forms to capture unreported income will generate more government revenue and help offset the cost of the health bill.

LOL, I fell off my chair...

 

[ba1614]

CNN - Health care law's massive, hidden tax change

The health reform law is threatening to swamp U.S. businesses with a flood of new tax paperwork.

Section 9006 of the health care bill mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.

The stealth change radically alters the nature of 1099s and means businesses will have to issue millions of new tax documents each year.

Right now, the IRS Form 1099 is used to document income for individual workers other than wages and salaries. Freelancers receive them each year from their clients, and businesses issue them to the independent contractors they hire.

But under the new rules, if a freelance designer buys a new iMac from the Apple Store, they'll have to send Apple a 1099. A laundromat that buys soap each week from a local distributor will have to send the supplier a 1099 at the end of the year tallying up their purchases.

The bill makes two key changes to how 1099s are used. First, it expands their scope by using them to track payments not only for services but also for tangible goods. Plus, it requires that 1099s be issued not just to individuals, but also to corporations.

Taken together, the two seemingly small changes will require millions of additional forms to be sent out.

"It's a pretty heavy administrative burden," particularly for small businesses without large in-house accounting staffs, says Bill Rys, tax counsel for the National Federation of Independent Businesses.

Eliminating the goods exemption could launch an avalanche of paperwork, he says: "If you cater a lunch for other businesses every Wednesday, say, that's a lot of information to keep track of throughout the year."

The paper trail - Why did these tax code revisions get included in a health-care reform bill? Welcome to Washington. The idea seems to be that using 1099 forms to capture unreported income will generate more government revenue and help offset the cost of the health bill.

WOW!!! There is absolutly no way a small business will survive this. Can you imagine having to 1099 every store you shop at all year. 1099 every utility, every service plus every temp worker. Then every one of your customers will have to 1099 you. This is a communistic nightmare. I will close down my business for sure before I do this. More jobs are gone for sure.

DEMOCRATS ARE EVIL RETARDS. FUCK THEM ALL!!!!!!!!!!!!!!!!!!!!!!!!

It's no wonder small business loves this guy!

 

[Flopper]

CNN - Health care law's massive, hidden tax change

The health reform law is threatening to swamp U.S. businesses with a flood of new tax paperwork.

Section 9006 of the health care bill mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.

The stealth change radically alters the nature of 1099s and means businesses will have to issue millions of new tax documents each year.

Right now, the IRS Form 1099 is used to document income for individual workers other than wages and salaries. Freelancers receive them each year from their clients, and businesses issue them to the independent contractors they hire.

But under the new rules, if a freelance designer buys a new iMac from the Apple Store, they'll have to send Apple a 1099. A laundromat that buys soap each week from a local distributor will have to send the supplier a 1099 at the end of the year tallying up their purchases.

The bill makes two key changes to how 1099s are used. First, it expands their scope by using them to track payments not only for services but also for tangible goods. Plus, it requires that 1099s be issued not just to individuals, but also to corporations.

Taken together, the two seemingly small changes will require millions of additional forms to be sent out.

"It's a pretty heavy administrative burden," particularly for small businesses without large in-house accounting staffs, says Bill Rys, tax counsel for the National Federation of Independent Businesses.

Eliminating the goods exemption could launch an avalanche of paperwork, he says: "If you cater a lunch for other businesses every Wednesday, say, that's a lot of information to keep track of throughout the year."

The paper trail - Why did these tax code revisions get included in a health-care reform bill? Welcome to Washington. The idea seems to be that using 1099 forms to capture unreported income will generate more government revenue and help offset the cost of the health bill.

WOW!!! There is absolutly no way a small business will survive this. Can you imagine having to 1099 every store you shop at all year. 1099 every utility, every service plus every temp worker. Then every one of your customers will have to 1099 you. This is a communistic nightmare. I will close down my business for sure before I do this. More jobs are gone for sure.

DEMOCRATS ARE EVIL RETARDS. FUCK THEM ALL!!!!!!!!!!!!!!!!!!!!!!!!

Something is missing here. A 1099 is used to report income not purchases. Please explain.

 

[oreo]

CNN - Health care law's massive, hidden tax change

The health reform law is threatening to swamp U.S. businesses with a flood of new tax paperwork.

Section 9006 of the health care bill mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.

The stealth change radically alters the nature of 1099s and means businesses will have to issue millions of new tax documents each year.

Right now, the IRS Form 1099 is used to document income for individual workers other than wages and salaries. Freelancers receive them each year from their clients, and businesses issue them to the independent contractors they hire.

But under the new rules, if a freelance designer buys a new iMac from the Apple Store, they'll have to send Apple a 1099. A laundromat that buys soap each week from a local distributor will have to send the supplier a 1099 at the end of the year tallying up their purchases.

The bill makes two key changes to how 1099s are used. First, it expands their scope by using them to track payments not only for services but also for tangible goods. Plus, it requires that 1099s be issued not just to individuals, but also to corporations.

Taken together, the two seemingly small changes will require millions of additional forms to be sent out.

"It's a pretty heavy administrative burden," particularly for small businesses without large in-house accounting staffs, says Bill Rys, tax counsel for the National Federation of Independent Businesses.

Eliminating the goods exemption could launch an avalanche of paperwork, he says: "If you cater a lunch for other businesses every Wednesday, say, that's a lot of information to keep track of throughout the year."

The paper trail - Why did these tax code revisions get included in a health-care reform bill? Welcome to Washington. The idea seems to be that using 1099 forms to capture unreported income will generate more government revenue and help offset the cost of the health bill.

WOW!!! There is absolutly no way a small business will survive this. Can you imagine having to 1099 every store you shop at all year. 1099 every utility, every service plus every temp worker. Then every one of your customers will have to 1099 you. This is a communistic nightmare. I will close down my business for sure before I do this. More jobs are gone for sure.

DEMOCRATS ARE EVIL RETARDS. FUCK THEM ALL!!!!!!!!!!!!!!!!!!!!!!!!

This is why Obama's real job creation is 15K new IRS tax auditors-----

1099 EVERYONE--LOL

 

[American Horse]

CNN - Health care law's massive, hidden tax change

The health reform law is threatening to swamp U.S. businesses with a flood of new tax paperwork.

Section 9006 of the health care bill mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.

The stealth change radically alters the nature of 1099s and means businesses will have to issue millions of new tax documents each year.

Right now, the IRS Form 1099 is used to document income for individual workers other than wages and salaries. Freelancers receive them each year from their clients, and businesses issue them to the independent contractors they hire.

But under the new rules, if a freelance designer buys a new iMac from the Apple Store, they'll have to send Apple a 1099. A laundromat that buys soap each week from a local distributor will have to send the supplier a 1099 at the end of the year tallying up their purchases.

The bill makes two key changes to how 1099s are used. First, it expands their scope by using them to track payments not only for services but also for tangible goods. Plus, it requires that 1099s be issued not just to individuals, but also to corporations.

Taken together, the two seemingly small changes will require millions of additional forms to be sent out.

"It's a pretty heavy administrative burden," particularly for small businesses without large in-house accounting staffs, says Bill Rys, tax counsel for the National Federation of Independent Businesses.

Eliminating the goods exemption could launch an avalanche of paperwork, he says: "If you cater a lunch for other businesses every Wednesday, say, that's a lot of information to keep track of throughout the year."

The paper trail - Why did these tax code revisions get included in a health-care reform bill? Welcome to Washington. The idea seems to be that using 1099 forms to capture unreported income will generate more government revenue and help offset the cost of the health bill.

WOW!!! There is absolutly no way a small business will survive this. Can you imagine having to 1099 every store you shop at all year. 1099 every utility, every service plus every temp worker. Then every one of your customers will have to 1099 you. This is a communistic nightmare. I will close down my business for sure before I do this. More jobs are gone for sure.

DEMOCRATS ARE EVIL RETARDS. FUCK THEM ALL!!!!!!!!!!!!!!!!!!!!!!!!

There is that $600 threshold. That could even mean that some small operators will be hurt by being culled before the 600 is reached. It certainly means lots more paperwork, and a lot more complicated. It will make credit card purchases more interesting. Some CC companies which provide end of year billing information will facilitate things for the small independent contractor. They (IRS) won't be able to process these mass quantities. they have hard enough time with the standard 1040 form.

I wonder most what the penalties are for each missed filing.

 

[American Horse]

Something is missing here. A 1099 is used to report income not purchases. Please explain.

It's justs a permutation of what existed before when we filed a 1099 on a subcontractor who supplied all the material and all the labor to install the material, like drywall for instance. (or siding, or electrical, or plumbing, or stone hauled to a job by a trucking company, etc.....)

Those operators then had a gross income statment to offset with all the material leaving labor as income. It is a sure way of making certain that no one is missed, and everyone is captured by the system.

The penalties for non-compliance have to be severe.

 

[oreo]

Something is missing here. A 1099 is used to report income not purchases. Please explain.

It's justs a permutation of what existed before when we filed a 1099 on a subcontractor who supplied all the material and all the labor to install the material, like drywall for instance. (or siding, or electrical, or plumbing, or stone hauled to a job by a trucking company, etc.....)

Those operators then had a gross income statment to offset with all the material leaving labor as income. It is a sure way of making certain that no one is missed, and everyone is captured by the system.

The penalties for non-compliance have to be severe.

Yeah--as a business owner--I get 1099's from other businesse's we have contracted with.
But it sounds like this legislation is going much farther than that. "Sending Apple a 1099 because one bought a computer from them--is extreme." It's been law for quite some time that if you pay someone over $600 in a year--that you file a 1099 on them. Corporations- including Sub-S-currently are not required to have 1099's filed on them--because all checks or income flow into their business banking account anyway.

 

[American Horse]

Something is missing here. A 1099 is used to report income not purchases. Please explain.

It's justs a permutation of what existed before when we filed a 1099 on a subcontractor who supplied all the material and all the labor to install the material, like drywall for instance. (or siding, or electrical, or plumbing, or stone hauled to a job by a trucking company, etc.....)

Those operators then had a gross income statment to offset with all the material leaving labor as income. It is a sure way of making certain that no one is missed, and everyone is captured by the system.

The penalties for non-compliance have to be severe.

Yeah--as a business owner--I get 1099's from other businesse's we have contracted with.
But it sounds like this legislation is going much farther than that. "Sending Apple a 1099 because one bought a computer from them--is extreme." It's been law for quite some time that if you pay someone over $600 in a year--that you file a 1099 on them. Corporations- including Sub-S-currently are not required to have 1099's filed on them--because all checks or income flow into their business banking account anyway.

Exactly right, and they are required to have their books audited annually by a CPA, which makes the cheese even more binding. I have long held back on using certain part time people when their cost to me approached $600 IF they were EXPENDABLE.

 

[oreo]

It's justs a permutation of what existed before when we filed a 1099 on a subcontractor who supplied all the material and all the labor to install the material, like drywall for instance. (or siding, or electrical, or plumbing, or stone hauled to a job by a trucking company, etc.....)

Those operators then had a gross income statment to offset with all the material leaving labor as income. It is a sure way of making certain that no one is missed, and everyone is captured by the system.

The penalties for non-compliance have to be severe.

Yeah--as a business owner--I get 1099's from other businesse's we have contracted with.
But it sounds like this legislation is going much farther than that. "Sending Apple a 1099 because one bought a computer from them--is extreme." It's been law for quite some time that if you pay someone over $600 in a year--that you file a 1099 on them. Corporations- including Sub-S-currently are not required to have 1099's filed on them--because all checks or income flow into their business banking account anyway.

Exactly right, and they are required to have their books audited annually by a CPA, which makes the cheese even more binding. I have long held back on using certain part time people when their cost to me approached $600 IF they were EXPENDABLE.

There's lot of people in this country that work under the table. They get a check for services--say like carpet cleaning--window washing--one writes them out a check for $100 or less--they cash the check and they're gone. Now imagine this same person making $500 per day from several different customers. It's definitely a lot of money--that this person gets away with paying no taxes on.

So are they going to require individuals to give 1099's to these type people. Because there is a lot of personal information on that 1099--like social security numbers--that would open the gate to identity fraud.

 

[American Horse]

Yeah--as a business owner--I get 1099's from other businesse's we have contracted with.
But it sounds like this legislation is going much farther than that. "Sending Apple a 1099 because one bought a computer from them--is extreme." It's been law for quite some time that if you pay someone over $600 in a year--that you file a 1099 on them. Corporations- including Sub-S-currently are not required to have 1099's filed on them--because all checks or income flow into their business banking account anyway.

Exactly right, and they are required to have their books audited annually by a CPA, which makes the cheese even more binding. I have long held back on using certain part time people when their cost to me approached $600 IF they were EXPENDABLE.

There's lot of people in this country that work under the table. They get a check for services--say like carpet cleaning--window washing--one writes them out a check for $100 or less--they cash the check and they're gone. Now imagine this same person making $500 per day from several different customers. It's definitely a lot of money--that this person gets away with paying no taxes on.

So are they going to require individuals to give 1099's to these type people. Because there is a lot of personal information on that 1099--like social security numbers--that would open the gate to identity fraud.

But individuals (who are not small businesses) can never be required to file 1099's. There is simply no way. Most individuals have no clue what a 1099 even is. they can lean on small business and independent contractors (and of course corporations) because they (with the exception of corps) get 1099's filed on them all the time, which hooks them into the system. Corps have to be audited annually by CPAs which brings them into the loop.

BTW I'm all for getting everyone into the system so that we are all subject to the same laws. I'd estimate that 500-billion, or more goes unreported each year.

They must be getting a mighty powerful computer to handle all this new data.