Posted on 07/22/2010 7:57:40 AM PDT by jmaroneps37
In order to finance Obama’s Ponzi – like healthcare scheme, small businesses will be required to “issue” 1099s to vendors like Staples, Home Depot and Pet Smart if they purchase more than $600 in goods from these firms.
In other words if a dog walker in the upper West Side of Manhattan buys $610.00 worth of “doggie treats” to make her day a bit easier, SHE will have to issue Pet Smart a 1099 at the end of the calendar year.
It’s not all bad news
While the choking tentacles of Obamacare are destroying the rest of America, a recent interpretation of the monstrous document shows its demands for an overwhelming amount of paperwork have the potential to bring the IRS to a grinding halt.
In 2012 Obama’s scheme will require businesses of all sizes, tax exempt organizations AND governmental agencies to file a 1009 when they purchase over $600.00 worth of goods from a vendor. In its best Big Brother-speak the scheme dictates, “If a self-employed individual makes numerous small purchases from an office supply store during a calendar year that total at least $600, the individual must issue a Form 1099 to the vendor and the IRS showing the exact amount of total purchases.”
This requirement will be especially “crippling” to small businesses according to The National Federation of Independent Businesses and will mean serious trouble for the IRS itself in the view of the Taxpayer Advocate (TA), an independent IRS sub agency designed to assist taxpayers.
IRS observers are saying the regulations will “trigger a paperwork avalanche at the IRS” which the Service is simply not equipped to handle…..
(Excerpt) Read more at collinsreport.net ...
It’s hard me to view this as good news, when the victim, small business people, will also have been choked to death as well.
send them ALL in...EVERY day...by snail mail.......
Where are the “Save the Trees!” people on this?
In the real world unintended consequences will often get you fired. In government it only results in more regulation, more hiring, and more spending.
I envision an avalanche of phony 1099 form submissions.
Our small business probably has 200+ vendors over $600. To have to issue that many 1099’s in January (one of our busiest months for doing REAL business) will be a significant burden.
This just means that the Federal Government employment rolls will grow exponentially. They will be paid to plunder.
Consider how we will have access to medical treatment if the government health care redistributors have access to our medical records and voting habits.
There will be blue passes and red passes issued.
Blue *you’re due* and Red, *you’re dead*.
Why not?...He’s choking me already!
Is any democrat offeriing an explanation as to WHY this new paperwork is required?
(Several copier refills, paper, ... or ONE laptop, shipping box and storage set (to protect a piece of lab gear) exceeds 600.00.
ONE microscope or X-ray tube exceeds 600.00 dollars.
A single band saw, drill press or welder exceeds 600.00 dollars.
It sounds like job creating piece work in a poop plant! ;-)
How about if NO ONE submits this garbage to the IRS?
I am a small business owner, one employee - me. For every purchase I’m going to make that’s over 600 dollars, I’m going to either use multiple credit cards (if I can) or issue multiple checks, making a 600 + purchase look like multiple smaller purchases.
Of course this won’t work for Internet purchases, but I don’t buy much over the net.
I’m going to use every trick I can think of to avoid doing this. This is big gov’t running rabid, and I hope the IRS becomes so overwhelmed it implodes.
Help me here folks, why do the wunderkinds want a paper trail on all purchases in excess of $600 per vendor? Even in my most demented moment, I cannot fathom what such a mass of information is supposed to achieve. The barter economy is looking a whole lot better every minute.
It’s hard me to view this as good news, when the victim, small business people, will also have been choked to death as well.
—————————————————>
I don’t see this as good news either. The large box stores will come up with a software cash register that will automatically issue you a 1099.
The small business will suffer, the tax payer will suffer due to additional paperwork and audit fees BUT the IRS will be able to hire more Government Workers.
Since I am incorporated as a small business, I fully intend to flood the system with frivolous 1099 even for personal purchases. Call it throwing a Cloward Piven at the Regime.
See tagline.
The medium (mindless, out-of-control, overreaching bureaucracy) is the message, as Marshall McLuhan said.
"I know no method to secure the repeal of bad or obnoxious laws so effective as their stringent execution." Ulysses S. Grant
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.