An Appeal to Slow IRS 1099 Regulations
Democratic Senators Evan Bayh (IN), Paul Begich (AK), Ben Nelson (NE) and Jeanne Shaheen (NH) have called on the IRS to find ways to keep the new health-care (often called Obamacare) reporting regulations from overwhelming small businesses. A particular concern is a provision which requires the filing of 1099s to vendors which have sales of over $600 to healthcare providers during the year. The Senators encourage the IRS to find ways to reduce the paperwork burden; perhaps by allowing healthcare providers to consolidate this information with other paperwork.
We applaud these predominately moderate Senators for taking important first steps toward realizing the damage that heavy Federal regulation has done to American economic activity--including employment levels. Sadly, many Democrats and no small number of Republicans still need to get this "memo."
We applaud these predominately moderate Senators for taking important first steps toward realizing the damage that heavy Federal regulation has done to American economic activity--including employment levels. Sadly, many Democrats and no small number of Republicans still need to get this "memo."
posted by Dan Meyer at 10:52 AM
1 Comments:
In 2012, the health care reform law will require ALL businesses, governments and charities to issue 1099 forms to vendors they pay over $600 for goods and services. This will undoubtedly financially crush thousands of small-and-medium-sized businesses who work for these companies. Read alliantgroups' (www.alliantgroup.com) Dean Zerbe's take on the 1099 burden and where its repeal currently stands in Congress and the administration. http://bit.ly/cG7USr
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