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Astros faithful Bob Choate's tale of doughnuts, taxes and baseball seems to have reached a relatively happy ending as the deadline strikes to file income taxes. On last year's Astros' fan appreciation day, the 56-year-old won 315 coupons from Shipley's Do-Nuts, each worth a cup of coffee and either a free doughnut or a dozen doughnut holes. However, he later received an IRS Form 1099 stating that he owed taxes on his prize, which was valued at $927.61. Choate protested to the Astros and to Shipley's, claiming that the actual value of his prize fell below the $600 threshold that...

US Businesses can now breathe a big sigh of relief. On Tuesday, the US Senate passed legislation to repeal the expanded 1099 information tax return requirements which were part of last years health care legislation as well as the 1099 reporting requirements for individual taxpayers that receive rental income. The US House of Representatives had already passed the same bill on March 3rd, so it now will go to the President for his signature. The repeal addresses two pieces of legislation that were enacted in 2010, the Patient Protection and Affordable Care Act (PPACA) and the Small Business Jobs Act....

For all the talk by congressional candidates last year of repealing Obamacare, sane observers knew that it was never going to happen in one full court press. From the beginning, this was a process which was going to have to be tackled piecemeal. While court challenges to the government mandate may eventually cut the legs out from under it entirely, other sections have been targeted for a legislative remedy and the first of those is now heading to the president’s desk. After a months-long battle, the Senate voted Tuesday, 87 to 12, to repeal the 1099 tax-reporting requirement in Democrats’...

Senate repeals health law's 1099 provision, sends bill to presidentBy Josiah Ryan - 04/05/11 01:23 PM ET After a months-long battle, the Senate voted Tuesday, 87 to 12, to repeal the 1099 tax-reporting requirement in Democrats’ healthcare reform bill. The measure now goes to the president, who is expected to sign it, making it the first part of his party’s signature reform bill to be scrapped. The measure, initially included as a funding measure for the healthcare bill, does away with the requirement for companies to report to the IRS transactions valued at more than $600. While the provision has...

Pelosi Statement on Passage of 1099 Legislation March 03, 2011 Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement today after the House passed the Small Business Paperwork Mandate Elimination Act, which repeals the expanded 1099 small business reporting requirements included in the Affordable Care Act and pays for it by raising taxes on middle class families by up to $5,000: "House Democrats support repealing the expanded 1099 requirement on small businesses and we voted on a bill last year to achieve this goal – paid for by closing tax loopholes that allowed corporations to ship jobs overseas....

Today was another fine example of how the Republican Party gets labeled as the stupid party. Senator Dick Durbin hinted two days ago that the Senate Democrats would be unified in their opposition to repeal Obamacare except for one or two. In other words, the GOP had the opportunity to get Democrats to jump ship. But Democrats have signaled that they want to “fix” Obamacare, not repeal it. So the GOP gladly obliged. Without any obstruction, the GOP went along with the Democrats’ changes to the onerous 1099 provision.

I have been searching for the origin of the IRS 1099 reporting requirement in the Obamacare bill. Can anyone shed some light on who specifically is to blame?

As expected, all 47 Senate Republicans voted Wednesday to repeal the sweeping health law, but no Democratic members joined them, leaving the GOP well short of the 60 needed to pass. But the bill, which easily cleared the GOP-led House last month, forced vulnerable Senate Dems to once again back the controversial legislation. Meanwhile, the Senate voted 81-17 to roll back the much-hated “1099” tax-reporting requirement. The obscure ObamaCare provision would have required companies, starting in 2012, to file a 1099 tax form every time they make cumulative purchases of $600 or more from any business.

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.

Tax pros now fear that tax evasion could go viral if the health-reform bill’s new 1099 requirement takes effect next year. They say more small businesses will likely opt to do all-cash transactions under the table to avoid the 1099 reporting requirement, and all of its onerous provisions, which are worse than small businesses may realize. That's the direct opposite effect of what lawmakers had hoped for, and it would pose a bad development for the Internal Revenue Service, which for years has been under pressure from Congress to bring in more tax revenue. That revenue is needed now more...

"[W]e have to pass the [Healthcare] bill so you can find out what’s in it."                                         —House Speaker Nancy Pelosi, March 9, 2010 Background Section 9006 of ObamaCare expands information reporting requirements to the Internal Revenue Service (IRS) for business transactions in excess of $600 in goods or services.  Starting in 2012, ObamaCare mandates that all businesses file an IRS Form-1099 for any vendor with which they have more than $600 in yearly transactions.  With an unemployment rate above nine percent for 20 consecutive months, this monstrous accounting and paperwork burden will not provide any incentive to create jobs.  To...

Republicans signaled Wednesday that repealing a controversial tax provision in the healthcare law is one of their most pressing priorities. House Republicans have re-numbered the bill repealing the tax requirement as H.R. 4, signaling it will be one of their first pieces of business. The bill would repeal language requiring companies, starting in 2012, to report all goods and services transactions valued over $600 to the IRS. Republicans and Democrats, and even the White House, have since said they support repealing this language, which would raise $19 billion over ten years and was included to help pay for the healthcare...

An all-but-overlooked provision of 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 -- just a few lines buried in the 2,409-page document -- 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 news continues to fly out of Washington, D.C. tonight, some expected, some not and this one is guaranteed to infuriate everyone who has to try to keep up with the vile stack of paperwork created by government at every level. I’ll use the headline from Numismatic News via Numismaster.com: 1099 Repeal Goes Down in Senate Think that’s bad? Next time you buy ANYTHING from a small businessman and they have marked the price up 10% from December 2010 to January 2011, you can thank the President, the *itch of the House (currently), and Senator Harry (bring me your illegals)...

Calvin Coolidge once said, "The chief business of the American people is business." The Democrats just lost America because they forgot that. On second thought, you can't forget what you never knew. The Democrats running things the past two years proved they have no clue about the business of business. In their world, the real world of the private economy is an abstraction, a political figment. Exhibit A: Along the road to ObamaCare, the party's planners inserted into the bill the now- famous 1099 provision, requiring businesses to do an IRS report for any transaction over $600 annually. No member...

Dear Republicans, I am writing this to ask to you take up arms on a critical issue, which you seem to be virtually ignoring - to your cost and that of the nation. This is the matter of 1099 tyranny. You see, while he was ramming through the health care bill, Harry Reid hid in its 2,500 pages of gibberish a provision requiring all businesses - big, small and even sole proprietorships - to file a 1099 form reporting every purchase of $600 or more from every vendor - including small purchases adding up to $600 or more. This is...

(CNSNews.com) – Millions of Americans who own rental property are in for a bit of a rude awakening, beginning in January. Congress has presented a bill to President Obama that would expand the IRS Form 1099 reporting requirements set out in the health-care reform law to include private citizens who own rental property. The Patient Protection and Affordable Care Act, President Obama’s health care law, requires that small businesses file a Form 1099-MISC with the IRS for any goods they purchase from an outside vendor valued at over $600. But the new bill, the Small Business Jobs and Credit Act...

They say the definition of insanity is doing the same thing over and over again and expecting a different result. If that's the case, Congress must be insane when it comes to increasing paperwork burdens on ordinary Americans--particularly paperwork of the 1099-MISC variety. The Obamacare law has over two dozen tax hikes. One of them is a new paperwork burden on small employers. Basically, every small business in America will have to mail a tax form to every single entity they do business with. That means every restaurant, every airline, every gas station, every supply store, etc. The public erupted...

For the non-business owners out there — here is how 1099 paperwork is filed currently. Form 1099s are like a W-2 for contractors — people who do work for a business but aren’t employees — designed to inform the IRS that a business has paid someone to do some work. Today, two limitations keep the flow of 1099s to a manageable level. First, businesses have to send 1099s only to unincorporated contractors, not to corporations. Second, 1099s only reflect the purchase of services, not goods. The flood begins in 2012 In 2012, Section 9006 erases both of these limitations, and...

The anti-business agenda of Obama and the Democrats is a major factor. The only way a job is created is for someone to risk their money to start or expand a business. Anyone considering that must look at current and future economics. That look shows an increasing level of financial risk and headaches as Obama keeps pushing for higher taxes, higher energy costs, more regulation and more forced unionism. Obama Care has a new accounting nightmare, that requires a 1099 for all financial business transactions over $600... Obama is still pushing for the card check bill, which eliminates the secret...

1099 requirement buried in health-care law riles up small businesses . Bipartisan support is building for a repeal of a little-known tax rule in President Barack Obama's signature health-care law that has drawn the ire of small businesses around the country... Starting in 2012, businesses will be required to file a 1099 tax form each time they spend more than $600 a year to buy goods or services from another company. The 1099 rule is not entirely new. Under long-standing law, businesses have to file tax forms when they buy services from individual-owned businesses or partnerships. The new law extends...

WASHINGTON -(Dow Jones)- Congressional Democrats may water down or repeal new tax reporting rules that is supposed to raise $16 billion for health-care legislation, facing a chorus of criticism about the rules. House Democrats were forced to postpone a vote late Thursday on a GOP motion calling for repeal of the reporting requirement. That, in turn, delayed action on an $11 billion bill that expands federally-subsidized bonds for infrastructure projects. House lawmakers may add language to the infrastructure bill to weaken or repeal the IRS reporting regime, Democratic aides said. "This is an issue we want to address and now...

Efforts by House Democrats on Friday to repeal an Internal Revenue Service filing requirement contained in the new health care legislation failed when the measure fell short of the two-thirds majority vote needed to pass. The measure, proposed by House Ways and Means Chairman Sandy Levin (D-MI), sought to repeal a requirement of businesses to report to the IRS any purchase from a vendor of goods or services worth $600 or more during the calendar year. The measure failed 241 to 154 in a vote that followed party lines almost entirely. The American Institute of Certified Public Accountants (AICPA) last...

For the first time, House Democrats are proposing repealing a piece of the health care overhaul, one that small businesses have been warning is going to be overly burdensome. The move comes just four months after the Democrats' health plan passed in March. The provision would have required businesses to file 1099 tax forms for all transactions with vendors that total over $600. Due for implementation in 2012, it would have raised $19 billion over 10 years to pay for the health care overhaul. Rep. Scott Murphy (D-NY) offered the bill on Friday morning. Ways and Means Chairman Sander Levin...

This President has said for months that jobs and the economy are his number one priorities. ObamaCare has demonstrated his sincerity... just not in the way we might think. While American shores are littered with the carcasses of millions of octopi who sacrificed their lives so that their ink might be used to expound upon the disaster that is ahead, one of the most damaging elements of ObamaCare doesn't have anything to do with healthcare in the first place. It really belongs amongst the 2,300 pages of economic malpractice known as Dodd-Frank. We are of course talking about Section 9006....

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...

Section 9006 of the Patient Protection and Affordable Care Act (Public Law 111-148, signed into law by President Obama this spring) turns 1099 forms into reporting forms not only for independent contractor’s income – what they have long been used for – but also to show sales, gains and losses on purchases and sales of goods as part of a trade or business.

Joy Staveley makes a living shooting rapids. Or more accurately, it is her job to make sure other people get to ride the fierce whitewater of the Colorado River as it rages beneath the Grand Canyon's imposing vistas. The combination entices about 1,000 customers a season to Staveley's business, called Canyoneers, for tours ranging from three to 14 days. She's been doing this for 31 years at the Flagstaff, Ariz.-based outfit that grosses about $1 million annually. With a full-time staff of just five (which balloons to 20 during the April to September whitewater season), Staveley must wear many hats....

NEW YORK (CNNMoney.com) -- The massive expansion of requirements for businesses to file 1099 tax forms that was hidden in the 2,409-page health reform bill took many by surprise when it came to light last month. But it's just one piece of a years-long legislative stealth campaign to create ways for the federal government to track down unreported income. The result: A blizzard of new tax forms that the Internal Revenue Service will begin rolling out next year.

Pres. Barack Obama promised Americans “health-care reform.” So far, “health-care form” is more like it. Obamacare is devolving into the Paper Industry Salvation Act of 2010. This new law spans 2,562 tree-killing pages. Far worse, it will force Americans to spend countless irritating hours completing, transmitting, and filing endless reams of federal paperwork. The scariest news for America’s forests may be a brand-new mandate that will compel each business — from General Electric to the neighborhood handyman — to file an IRS Form 1099 for every business on which it spends at least $600. Form 1099 today applies only to...

NEW YORK (CNNMoney.com) -- An all-but-overlooked provision of 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 -- just a few lines buried in the 2,409-page document -- 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.

When Congress passed the Health Care Bill in March, they inserted a seemingly insignificant section that will eventually have sweeping implications. It will increase accountability for the small business taxpayer to keep accurate records and make it more difficult for business to claim improper business expenses to offset revenues during the tax year. What does it say? Section 9006 of the bill amends Section 6041 of the Internal Revenue Code in the following way: SEC. 9006. EXPANSION OF INFORMATION REPORTING REQUIREMENTS. (a) IN GENERAL.—Section 6041 of the Internal Revenue Code of 1986 is amended by adding at the end the...

The existence of the ObamaCare provision that forces every American, regardless of income, ability or personal preference to purchase a qualifying health insurance policy has been well reported, little attention has been paid to a similar mandate that will be far more wide-reaching, far costlier, and far more destructive to the attempts by hard-working Americans to protect their wealth. The provision in question comes in the form of a few seemingly minor alterations to the tax code, specifically Section 6041 dealing with the reporting of income on Form 1099. The newly enacted amendments force business owners to send out millions...

Remember this?(Video of Pelosi: "We have to pass the bill so you can see what's in it.")Cato’s Chris Edwards has found another of Nancy Pelosi’s surprises in ObamaCare, and this one’s a doozy. We have already noted the strange assignment of health-insurance approval to the IRS, an agency with no expertise in the field whatsoever. Now it appears that the IRS will have to hire a lot more people to track an avalanche of paperwork, too: Most people know about the individual mandate in the new health care bill, but the bill contained another mandate that could be far more...

None - please see the source

Freeper CPA and other Financial Pro's and Small Business Owners help!Spoke with a small business owner who's better half is a CPA of note, and too busy to pass this along during taxtime. Reading this made their blood pressure go up. I need some other professionals opinion to see if you read this the same as they didWhat they have stumbled upon may be the "Framework" for a VAT within Obamacare.Read this from the exective summary from the Journal of Accountancy: Information Reporting The act requires employers to disclose on each employee’s annual Form W-2 the value of the employee’s...

Changes in Law Could Cause Late Revisions to 1099 Forms; An Extension for Wachovia Investors shouldn't be in a rush to file their 2006 tax returns. Those who do may have to amend them later this year. Major financial-services companies are struggling to avoid what some fear could be an unusually severe recurrence of a problem that has bedeviled investors the past three years. The issue is 1099 forms, those statements that banks, brokerage houses and mutual funds send out to account holders around the end of January. Since 2004, millions of taxpayers have received revised 1099 forms -- typically...

Five Fat Girls Sought Cops report "flurry of chubby fists" in Toledo milk heist AUGUST 9--Robbery is never funny. Except when it's described by Toledo police officers with a peculiar sense of humor. Early this morning, Scott Gibson, 44, was returning from the grocery store with a gallon of milk when, as he told cops, he was surrounded by "5 fat black girls" in the parking lot of a Kentucky Fried Chicken. As described by officers Patrick Sutherland and Kristi Eycke in the below Toledo Police Department incident report, one of the "hefty felons" asked Gibson to surrender his milk....