[osiris]

For your entertainment:

There was a major change to tax law made when the Health care bill was passed: 1099s will now be required for business purchases totaling over $600 per tax year.

I think this is a pretty sneaky move and believe the tax law change should have been a separate debatable issue. The intention is to make sure that no one is screwing Uncle Sam with deductions, unaccounted sales, etc...

What do you think?

Health care law's hidden tax change to launch 1099 avalanche - May. 5, 2010

[Big Mac]

How wonderful. Small businesses will have to issue 1099s to major corporations? That doesn't make any sense. To what end? What extra revenue is the government hoping to generate through this new scheme? When CNN detects stupidity in Washington you know it has to be ridiculously blatant.

Thank you, Washington. We're going down in flames. And people mocked me for my annihilation of liberties thread. . .

[finboy]

Originally Posted by osiris 

For your entertainment:

There was a major change to tax law made when the Health care bill was passed: 1099s will now be required for business purchases totaling over $600 per tax year.

I think this is a pretty sneaky move and believe the tax law change should have been a separate debatable issue. The intention is to make sure that no one is screwing Uncle Sam with deductions, unaccounted sales, etc...

What do you think?

Health care law's hidden tax change to launch 1099 avalanche - May. 5, 2010

Anyone surprised? How many pages was the final bill?

[Lint Police]

moronic.

[CRASH HARDDRIVE]

Gee, you mean it's a terrible idea to ram through crap legislation that no one has read, so that we all eventually find out the hard way how much pure nonsense is in it? No, really?

Compliance with this garbage would have to be practically nill. It'd grind most small and mid-sized businesses to an absolute standstill. You'd need to spend more time tallying stupid 1099 forms than actually running your business. It'd also guarantee that new businesses will have an impossible time getting off the ground, because established businesses will only deal with their current suppliers rather then have to start tallying another set of forms for each new supplier they deal with.

There truly is no end to the stupidity of naive politicians who don't know crap about how the real world works, yet constantly want to dictate to everyone else how to do everything.

The real effect of this (other than MASSIVE non-compliance) would be to have the IRS so buried in the endless avalanche of useless 1099 forms that real tax cheats would go completely unnoticed because there will be no resources left to even check. Team Big Government proves yet again it's more useless than ever.

[besson3c]

I wonder if this is going to be sort of like the use tax, something that most people sort of blow off... I mean, if you buy a computer from Apple you would just expense this as an office supply, but they don't require you to itemize your office supplies.

[osiris]

Originally Posted by besson3c 

I wonder if this is going to be sort of like the use tax, something that most people sort of blow off... I mean, if you buy a computer from Apple you would just expense this as an office supply, but they don't require you to itemize your office supplies.

mb this is more of a way to enforce tax collection - by forcing people to 1099 every single thing. The next step may be a VAT.

I imagine the small business owner will suffer the most - more paperwork, more time spent tracking expenses... It's just sneaky the way it's stuck into a health care bill.

[osiris]

Originally Posted by Lint Police 

moronic.

Exactly.

[besson3c]

Originally Posted by osiris 

mb this is more of a way to enforce tax collection - by forcing people to 1099 every single thing. The next step may be a VAT.

I imagine the small business owner will suffer the most - more paperwork, more time spent tracking expenses... It's just sneaky the way it's stuck into a health care bill.

But how can this be enforced when you don't have to itemize expenses?

[ebuddy]

Silly... you've got to pass it to know what's in it remember?

[BadKosh]

Thats why the Dems will be mostly gone in November. Hit and run. That's what happens when you vote with your emotions and not your brain.
The Change you wanted, and never got the definition of what that was going to be. Stupid is as STUPID does. Shut up, they are in power now. LOL!

[finboy]

We found out last night that our insurance provider (who covers hundreds of thousands of people in our state) is proposing changes to chronic coverage that would more than double our medical expenditures every year. So - I know it's hard to believe - my coverage is changing. No way!!!!!! That can't happen!!!!!! Yes, it CAN happen.

To give less to more, we have to take more from the few.

It's already started. I'm not sure where the $4,000 is going to come from. We had a meeting with therapists yesterday, who are very encouraging that my son's cognitive behavioral therapy is working, and working quickly. But next year we'll pay $4k out of pocket that we didn't cover this year, because the system is anticipating covering more between now and 2014.

It's coming to all of us. Get ready.