Hi all...
Just wanted to put something out there for you to all know.
The sweeping healthcare reform bill from last year included a provision that would require all businesses to start submitting 1099 forms for every vendor with whom you spend $600 in a given year...everyone from your handyman to the grocery store. The intent was to improve the accuracy of reportable income for all businesses, but the burden on small businesses in particular would have been awful.
I was in DC last week and visited 9 offices of members of Congress, urging them to repeal that part of the law (among other issues). Looks like it's happenning, as long as the president signs the bill (which most people believe he will).
Whew! Dodged a bullet with this.
http://politicalticker.blogs.cnn.com/2011/04/05/senate-sends-repeal-of-new-form-1099-requirement-to-obama/
Hope all is well.
Jay
Just wanted to put something out there for you to all know.
The sweeping healthcare reform bill from last year included a provision that would require all businesses to start submitting 1099 forms for every vendor with whom you spend $600 in a given year...everyone from your handyman to the grocery store. The intent was to improve the accuracy of reportable income for all businesses, but the burden on small businesses in particular would have been awful.
I was in DC last week and visited 9 offices of members of Congress, urging them to repeal that part of the law (among other issues). Looks like it's happenning, as long as the president signs the bill (which most people believe he will).
Whew! Dodged a bullet with this.
http://politicalticker.blogs.cnn.com/2011/04/05/senate-sends-repeal-of-new-form-1099-requirement-to-obama/
Hope all is well.
Jay