Thanks for those links. One of them lead to the following link on the health care bill. A little sleight of hand for this to be inserted into the HC Bill.
It apparently will require any business, and possibly any private individual receiving or paying $600 in services/goods to file a 1099 form with the IRS. And that's cumulative services/goods for an entire year. This will make individual coins/property/etc. a lot more useful if priced < $600. Maybe dreck will make a comeback.
If Noah were still around to build his ark, he'd have never gotten it done as he would be too busy filing 1099's for all the materials and sub-contractors used on the job.
This is as serious a threat to any kind of individual freedom as anything I could imagine. If you don't have any time to do anything but fill out government forms, you might as well pack it in. Who dreams this crap up?
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>This will make individual coins/property/etc. a lot more useful if priced < $600. >>
... for the tax evaders, who cause the honest taxpayers to pay more...
Of course, if true, that would be an enormous undertaking (I'm guessing it either isn't true, or won't happen). But it won't cause taxpayers to pay any more money than they otherwise would.
<< <i>This will make individual coins/property/etc. a lot more useful if priced < $600. >>
... for the tax evaders, who cause the honest taxpayers to pay more...
Of course, if true, that would be an enormous undertaking (I'm guessing it either isn't true, or won't happen). But it won't cause taxpayers to pay any more money than they otherwise would. >>
Sure it does...and directly or indirectly, your choice: To meet the requirements, most business will have to hire additional help to perform this task (I can vouch my company has at least 10,000 transactions per year, and probably many more than that over $600). That will cost additional, non-value added workforce, along with all the social's you'll have to pay.
Pretty smooth for someone to get this into the new bill...might be the catalyst to sink the whole sucker...or sink our system. This is NOT an overreaction...paperwork (administrative) is not free...
<< <i>This will make individual coins/property/etc. a lot more useful if priced < $600. >>
... for the tax evaders, who cause the honest taxpayers to pay more...
Of course, if true, that would be an enormous undertaking (I'm guessing it either isn't true, or won't happen). But it won't cause taxpayers to pay any more money than they otherwise would. >>
TAX EVADERS? Alittle insulted here!!!! We pay our taxes!!!!! It's the lazy welfare people who cause honest tax payers to pay more.......!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
<< <i>... for the tax evaders, who cause the honest taxpayers to pay more... >>
TAX EVADERS? Alittle insulted here!!!! We pay our taxes!!!!! >>
The 'tax evaders' comment was specifically referring to people that owe capital gains taxes, know it, and do not report it on their tax returns (or are planning to, in which case the reporting may foil their plans).
Comments
1099 IRS change in new health care bill
It apparently will require any business, and possibly any private individual receiving or paying $600 in services/goods to file a 1099 form with the IRS. And that's cumulative services/goods for an entire year. This will make individual coins/property/etc. a lot more useful if priced < $600. Maybe dreck will make a comeback.
If Noah were still around to build his ark, he'd have never gotten it done as he would be too busy filing 1099's for all the materials and sub-contractors used on the job.
roadrunner
I knew it would happen.
<< <i>This will make individual coins/property/etc. a lot more useful if priced < $600. >>
... for the tax evaders, who cause the honest taxpayers to pay more...
Of course, if true, that would be an enormous undertaking (I'm guessing it either isn't true, or won't happen). But it won't cause taxpayers to pay any more money than they otherwise would.
<< <i>
<< <i>This will make individual coins/property/etc. a lot more useful if priced < $600. >>
... for the tax evaders, who cause the honest taxpayers to pay more...
Of course, if true, that would be an enormous undertaking (I'm guessing it either isn't true, or won't happen). But it won't cause taxpayers to pay any more money than they otherwise would. >>
Sure it does...and directly or indirectly, your choice: To meet the requirements, most business will have to hire additional help to perform this task (I can vouch my company has at least 10,000 transactions per year, and probably many more than that over $600). That will cost additional, non-value added workforce, along with all the social's you'll have to pay.
Pretty smooth for someone to get this into the new bill...might be the catalyst to sink the whole sucker...or sink our system. This is NOT an overreaction...paperwork (administrative) is not free...
<< <i>
<< <i>This will make individual coins/property/etc. a lot more useful if priced < $600. >>
... for the tax evaders, who cause the honest taxpayers to pay more...
Of course, if true, that would be an enormous undertaking (I'm guessing it either isn't true, or won't happen). But it won't cause taxpayers to pay any more money than they otherwise would. >>
TAX EVADERS? Alittle insulted here!!!! We pay our taxes!!!!! It's the lazy welfare people who cause honest tax payers to pay more.......!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
<< <i>
<< <i>... for the tax evaders, who cause the honest taxpayers to pay more... >>
TAX EVADERS? Alittle insulted here!!!! We pay our taxes!!!!! >>
The 'tax evaders' comment was specifically referring to people that owe capital gains taxes, know it, and do not report it on their tax returns (or are planning to, in which case the reporting may foil their plans).