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Politicians race to repeal 1099 mandate
Orange County Register ^ | Jan. 27, 2011 | Jan Norman

Posted on 01/27/2011 7:02:43 AM PST by freedombiz

Members of the U.S. Senate and House of Representatives seem to be jockeying for position to carry the bill that actually repeals the mandate for businesses and individuals to report every supplier paid more than $600 a year.

The so-called Form 1099 mandate was part of the health reform law Congress passed last year. Supporters said the reporting requirement is key to financing health reform by collecting an estimated $17 billion in unpaid federal taxes.

(Excerpt) Read more at jan.ocregister.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: 1099; commiecare; obamacare; regulations; taxes
Congressmen and senators who last year thought it was a good idea to require 30 million businesses, nonprofits and individuals to report every $600 purchase are now rushing to put their name on bills to repeal this onerous mandate.
1 posted on 01/27/2011 7:02:45 AM PST by freedombiz
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To: freedombiz

It would require an entire forest the size of WA state to produce all that paper every year............


2 posted on 01/27/2011 7:05:11 AM PST by Red Badger (Whenever these vermin call you an 'idiot', you can be sure that you are doing something right.)
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To: freedombiz

The primary purpose for the extended 1099 requirement was to create a fictional budget entry for how much extra tax money it would bring in so Congress could spend it. If the 1099 requirement is removed, will they have to remove that much spending from the budget to balance it? Or will they just have the CBO say “Taxes? No, the 1099 requirement won’t bring in any tax money at all so there’s no need to cut. In fact handling all those 1099s probably would cost money, so by dumping the requirement we have another billion to spend somewhere.”


3 posted on 01/27/2011 7:06:57 AM PST by KarlInOhio (Washington is finally rid of the Kennedies. Free at last, thank God almighty we are free at last.)
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To: freedombiz
Supporters said the reporting requirement is key to financing health reform by collecting an estimated $17 billion in unpaid federal taxes.

Never mind that it would cost taxpayers 10-times that to do the paperwork.

4 posted on 01/27/2011 7:07:08 AM PST by E. Pluribus Unum ("If they bring a knife to the fight, we bring a gun." -- Barry Soetoro, June 11, 2008)
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To: Red Badger

This was the most disgusting and disgraceful portion of the SOTU address.

In 2010 Congress passed a 3,000 page Obamacare health care monstrosity that no member of Congress had read, let alone understood – against the overwhelming wishes of the American people. Then these bastards on Tuesday night gave themselves a standing ovation for a proposal to repeal the onerous 1099 provision that should never have been legislated in the first place.

This farce is analogous to a bank robber giving back the money he stole a year later, skirting law enforcement, and then issuing a self-serving press release to pat himself on the back.

The temerity of the liberals knows no bounds.


5 posted on 01/27/2011 7:09:25 AM PST by mwl8787
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To: freedombiz

If I report my $1000 purchase of my business supplies at Staples via a 1099, that is going to result in more Federal taxes how?? It’s an absurdity.


6 posted on 01/27/2011 7:11:28 AM PST by Sacajaweau
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To: freedombiz

I just hope the GOP doesn’t settle for this and declare victory.


7 posted on 01/27/2011 7:11:40 AM PST by GeronL (http://www.stink-eye.net/forum/index.php)
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To: freedombiz
Will Hussein veto? It is such a disaster of a bill, one would think that it would get gynormous support surpassing the veto proof margin.
8 posted on 01/27/2011 7:12:34 AM PST by lormand (A Government who robs Peter to pay Paul, will always have the support of Paul)
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To: GeronL

I’d like to see the amount changed. $5 seems about right. Its good to keep the odious ‘bamcare intact in all its glorious hideousness. Repeal the whole thing. Don’t remove any warts... its a waste of time, and perhaps counterproductive in the long run.


9 posted on 01/27/2011 7:14:12 AM PST by C210N (0bama, Making the US safe for Global Marxism)
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To: C210N

If they want to cut something out, take out the individual mandate. Without that, it all falls apart.


10 posted on 01/27/2011 7:16:01 AM PST by GeronL (http://www.stink-eye.net/forum/index.php)
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To: freedombiz

Wonder how many totally insane provisions are in that 2700 page monstrosity passed by the Dems without reading it. Guess Pelousy was wrong when she said everyone would love ObamaCare after they passed it and read the bill, in that order.


11 posted on 01/27/2011 7:16:38 AM PST by kittymyrib
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To: Sacajaweau

It will result in more taxes because businesses pay small companies and write it off. The small businesses or individuals may or may not report the income.

Its all part of their effort to know where every single dollar for every single person is spent.


12 posted on 01/27/2011 7:17:12 AM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: Sacajaweau
It doesn't have to bring in more money. Congress just had to pretend it would bring in more money so they could then spend real money backed up by that pretend tax revenue.
13 posted on 01/27/2011 7:21:33 AM PST by KarlInOhio (Washington is finally rid of the Kennedies. Free at last, thank God almighty we are free at last.)
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To: Sacajaweau

The Moonbats supporting this don’t trust you when you say you buy your supplies at Staples. They think your buying them from Vinny the Staple Guy who’s got hot stuff in his truck.


14 posted on 01/27/2011 7:23:26 AM PST by massgopguy (I owe everything to George Bailey)
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To: freedombiz

Imagine the number of 1099’s that would be collected by businesses like Sam’s Club, Costco, Staples, Office Depot and even Wal Mart. The cost of processing all that paper would just be passed on to us as higher prices for everything we buy.


15 posted on 01/27/2011 7:25:32 AM PST by The Great RJ (The Bill of Rights: Another bill members of Congress haven't read.)
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To: Sacajaweau
If I report my $1000 purchase of my business supplies at Staples

You don't have to report anything you paid to Staples. Staples is a coorporation.

ML/NJ

16 posted on 01/27/2011 7:25:32 AM PST by ml/nj
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To: freedombiz
Congressional Fiscal Hawks Eye $2.5 Trillion in Spending Cuts (partial list provided)

- Require collection of unpaid taxes by federal employees. $1 billion total savings.

17 posted on 01/27/2011 7:27:05 AM PST by Libloather (The epitome of civility.)
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To: driftdiver

This 1099 nonsense will be the END of countless small businesses. For instance, I currently made (needed parts) purchases from 6 varied suppliers, four of them little tiny businesses. If FORCED to go through the 1099 process, I have already informed my SMALL suppliers, who don’t have everything I need, but I still go to, that I will be FORCED to concentrate on the TWO very large companies that have everything I need.
End result, since I, a ONE PERSON business, will have to avoid onerous time wasting paper work, four equally small businesses will be cut from the loop of many others. Goodbye.


18 posted on 01/27/2011 7:27:38 AM PST by CaptainAmiigaf ( NY Times: We print the news as it fits our views.)
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To: ml/nj

Maybe they want you to 1099 the cashier.


19 posted on 01/27/2011 7:30:54 AM PST by massgopguy (I owe everything to George Bailey)
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To: CaptainAmiigaf

I don’t see it as a major time waster. I use quickbooks and it will do the 1099s fairly easily. of course if you don’t use QB and do the accounting manually it would be a royal pain.

Its about control and knowing where you get your money and where you spend it.


20 posted on 01/27/2011 7:32:09 AM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: ml/nj

“You don’t have to report anything you paid to Staples. Staples is a coorporation.”

You will have to report any expense of greater than $600 paid to a single entity. It has nothing to do with where you spend the money at. Corporations are no longer exempt starting in 2012.


21 posted on 01/27/2011 7:38:57 AM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: freedombiz

Rev 13:17
so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name.


22 posted on 01/27/2011 7:46:49 AM PST by donna (Imagine...women who honor men enough not to tempt them.)
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To: driftdiver

I believe you are right. You have to pass the law to learn what’s in it.


23 posted on 01/27/2011 7:47:14 AM PST by battlecry
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To: battlecry

From what I’ve read there are actually several changes. The end game though is to collect more taxes. Right now if you spend $600 on office supplies you write it off.

There is nothing to really connect that $600 you write off to income for the place of purchase.


24 posted on 01/27/2011 7:51:35 AM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: freedombiz

Look at the wasted effort expended at a time when
every minute counts toward getting this country
back on it’s feet.

As my old mentor told me, “If you can’t find the
time to do something RIGHT, where are you going
to find the time to do it over?”

The lost hours/money this administration is costing us
is a CRIME.


25 posted on 01/27/2011 7:52:18 AM PST by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: driftdiver

“You don’t have to report anything you paid to Staples. Staples is a coorporation.”

You will have to report any expense of greater than $600 paid to a single entity. It has nothing to do with where you spend the money at. Corporations are no longer exempt starting in 2012.


Also remember that the one exemption to reporting the 1099 is if you pay by credit card. Think about that for a while..................


26 posted on 01/27/2011 8:00:20 AM PST by PeterPrinciple
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To: driftdiver
Corporations are no longer exempt starting in 2012.

Exactly right - which means our small business that currently issues 10-15 1099's per year will be forced to issue hundreds of additional 1099's to all the corporations we buy from.

27 posted on 01/27/2011 8:01:38 AM PST by Jess79
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To: driftdiver

I don’t see it as a major time waster. I use quickbooks and it will do the 1099s fairly easily. of course if you don’t use QB and do the accounting manually it would be a royal pain.


You are only fooling your self.......................


28 posted on 01/27/2011 8:02:13 AM PST by PeterPrinciple
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To: donna
Rev 13:17
so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name.

Doesn't it say somewhere in Revelations that the anti-Christ would survive a wound to the head? Not that I really think that about Gabrielle Giffords, but the thought did cross my mind. How many people survive a wound like that without ending up like James Brady?

29 posted on 01/27/2011 8:05:58 AM PST by OrangeHoof (Washington, we Texans want a divorce!)
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To: driftdiver

The end game though is to collect more taxes.


Actually the 1099’s reduce taxes collected in my experience. You only have to file a 1099 if you pay as a part of your business expense, not personal expense.

Most of my clients give me only their 1099’s because that is what the gov knows about. I know they have done a lot more work than that.


30 posted on 01/27/2011 8:06:26 AM PST by PeterPrinciple
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To: driftdiver

Yes there is. The receipt.


31 posted on 01/27/2011 8:14:28 AM PST by US_MilitaryRules (Where is our military?)
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To: PeterPrinciple

“Also remember that the one exemption to reporting the 1099 is if you pay by credit card. Think about that for a while....”

Yes, its exactly as I’ve stated. They want to track every dollar.

And no I’m not fooling myself. QB allows be to print 1099s with a simple report. Assuming of course I keep it up to date.


32 posted on 01/27/2011 8:26:41 AM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: US_MilitaryRules

Yes the paper receipt which the IRS does not have access to in a real time fashion.


33 posted on 01/27/2011 8:28:32 AM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: PeterPrinciple

Answering all the requests (W-9)’s are the time waster, plus entering tax ID numbers.


34 posted on 01/27/2011 8:36:13 AM PST by wordsofearnest (Evan Bayh gave Indiana a twofer.)
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To: The Great RJ

You got that right


35 posted on 01/28/2011 6:46:40 AM PST by freedombiz
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