Back in the News 1099 Repeal
pf70collector
Posts: 6,574 ✭✭✭
Repeal 'onerous IRS rule: Lawmakers
Looks like everyone is supporting the repeal even the President.
Looks like everyone is supporting the repeal even the President.
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pf70collector
Posts: 6,574 ✭✭✭
Comments
<< <i>So whose idea was it in the first place? >>
Anaconda?
<< <i>
<< <i>So whose idea was it in the first place? >>
Anaconda?
Oh dude, you are so bammed!
<< <i>
<< <i>
<< <i>So whose idea was it in the first place? >>
Anaconda?
Oh dude, you are so bammed! >>
lmao, life goes on
<< <i>So whose idea was it in the first place? >>
I'm not sure anybody will be willing to step up and take credit for it.
Russ, NCNE
<< <i>So whose idea was it in the first place? >>
The Joint Committee on Taxation is a nonpartisan committee of the United States Congress, originally established under the Revenue Act of 1926. The Joint Committee operates with an experienced professional staff of Ph.D economists, attorneys, and accountants, who assist Members of the majority and minority parties in both houses of Congress on tax legislation.
The Joint Committee is chaired on a rotating basis by the Chairman of the Senate Finance Committee and the Chairman of the House Ways and Means Committee. During the first Session of each Congress the House has the Chair and the Senate has the vice-chair; during the second session the roles are reversed.
<< <i>
<< <i>So whose idea was it in the first place? >>
The Joint Committee on Taxation is a nonpartisan committee of the United States Congress, originally established under the Revenue Act of 1926. The Joint Committee operates with an experienced professional staff of Ph.D economists, attorneys, and accountants, who assist Members of the majority and minority parties in both houses of Congress on tax legislation. >>
Oh please don't say it was the Accountant!! I get enough slack as a random number generator already!
Here's the link:
null
That is, if I have a craw.....
It's bad enough I have to collect sales tax for my state. I certainly didn't get into business to be a tax collector for the government.
Also why I could never support the so called " fair-tax".....
Everyone cheared.
So all we need is for Congress to stop screwing around a write a Bill.
Good luck with that.
The only way to make an economic system truly stable is to permit the free market to take over.
Some pinche asqueroso(s) who never worked in the private sector thought that more tax revenue would be collected if additional reporting requirements were created. It never dawned on this / these pendejo(s) that issuing 1099s to Dell or Staples would not generate additional tax dollars, nor would additional tax revenue be created by hiring an additional 15,000 Revenue Agents to make sure this was done.
The boludos who inserted this in the Health Care Bill -- you know the 2,000 plus page document that no onehd the time to read (assuming they were literate in the first place, which imo is a generous assumption to make) -- also thought that once this new 1099 filing requirement took place, that there would be 100% compliance with the new law.
When you shine a light on roaches, they leave in a hurry.
"Seu cabra da peste,
"Sou Mangueira......."
January 26, 2011
Dear Mr. Puro,
Knowing of your concern over a new IRS 1099 reporting requirement contained in the health care reform law, I wanted to update you on recent action on this issue in Congress.
I have heard from a number of small business owners in Vermont about this issue. I agree it is overly burdensome and strongly support its repeal.
This week, I again cosponsored legislation that will repeal this reporting requirement – H.R. 4, the Small Business Paperwork Mandate Elimination Act and H.R. 417, the Small Business Tax Relief Act. I believe repeal has broad bipartisan support in Congress and was pleased to hear President Obama embrace it during his State of the Union message last night. Be assured that I am working to expedite passage of this legislation and get it to the President's desk for his signature.
I appreciate you letting me know how this will impact small businesses in Vermont. Please stay in touch.
Sincerely,
PETER WELCH
Member of Congress
Puro's Coins and Jewelry
Rutland, VT
(802)773-3883
Link to my website www.vtcoins.com
Link to my eBay auctions
Buy, sell and trade all coins, US paper money, jewelry, diamonds and anything made of gold, silver or platinum.
<< <i>Just got an email from Vermont Congressman Peter Welch:
January 26, 2011
Dear Mr. Puro,
Knowing of your concern over a new IRS 1099 reporting requirement contained in the health care reform law, I wanted to update you on recent action on this issue in Congress.
I have heard from a number of small business owners in Vermont about this issue. I agree it is overly burdensome and strongly support its repeal.
This week, I again cosponsored legislation that will repeal this reporting requirement – H.R. 4, the Small Business Paperwork Mandate Elimination Act and H.R. 417, the Small Business Tax Relief Act. I believe repeal has broad bipartisan support in Congress and was pleased to hear President Obama embrace it during his State of the Union message last night. Be assured that I am working to expedite passage of this legislation and get it to the President's desk for his signature.
I appreciate you letting me know how this will impact small businesses in Vermont. Please stay in touch.
Sincerely,
PETER WELCH
Member of Congress >>
Can I vote for your Congressman in Virginia?
Puro's Coins and Jewelry
Rutland, VT
(802)773-3883
Link to my website www.vtcoins.com
Link to my eBay auctions
Buy, sell and trade all coins, US paper money, jewelry, diamonds and anything made of gold, silver or platinum.
Puro's Coins and Jewelry
Rutland, VT
(802)773-3883
Link to my website www.vtcoins.com
Link to my eBay auctions
Buy, sell and trade all coins, US paper money, jewelry, diamonds and anything made of gold, silver or platinum.
Dear Rick,
The House and Senate are home in a district work period so now is the time to let your legislators know how you feel on the 1099 issue.
Both the Senate and House have taken some action on the 1099 issue. On Feb 2nd , the Senate voted on an amendment by Sen. Debbie Stabenow of Michigan to repeal the 1099 requirement scheduled for Jan 1, 2012. 81 Senators voted for this amendment. However this amendment was put on a Federal Aviation Agency Authorization Bill. This bill has passed the full Senate and must go to the House for consideration. Bills that are passed by the Senate and House are usually different so then a Conference Committee would be needed to agree on a single bill. Also, the bill is fully paid for by a reduction of $44 billion dollars from FY 2012 budget accounts excluding defense, veterans' affairs and social security. Although the amendment was voted by an overwhelming majority, this is the first step of a long process for this bill to become law.
On February 17th, the House Ways and Means Committee passed two bills that have been sent to be considered by the full House. HR 4 (Rep. Lungren of CA) and HR 705 (Rep. Camp of MI and Chairman of the House Ways and Means Committee) were both approved by the Committee. These bills are a step further to eliminate the 1099 requirement, however action must still be taken by the full House, the Senate Finance Committee and the entire Senate.
Mark
"Dear Mr. X:
Thank you for contacting me to express your concerns about increased tax reporting requirements in healthcare reform legislation. I appreciate hearing your thoughts about this issue, and I apologize for the delay in my response.
As you know, President Obama signed two health reform bills into law; the Patient Protection and Affordable Care Act (Public Law No. 111-148), and the Health Care and Education Reconciliation Act (Public Law No. 111-152). I supported these pieces of legislation because they will expand access to care to millions of Americans and end abusive insurance industry practices, all while reducing the deficit by an expected $230 billion over the next 10 years and $1 trillion over the next 20 years.
As part of a package of measures to pay for these reforms, the legislation included increased reporting requirements intended to reduce the country's estimated $348 billion annual tax underpayment, known as the "tax gap." Specifically, the law requires businesses to inform the Internal Revenue Service (IRS) of all purchases of goods or services made in excess of $600 per year, starting in 2012. Previously, the IRS only required businesses to file such forms on payments for services made to individuals.
I share your concerns that these requirements will impose a significant and undue burden on small businesses. You may be pleased to know, if you are not already aware, that on February 2, 2011 I joined the majority of my Senate colleagues in overwhelmingly approving an amendment offered by Senator Debbie Stabenow (D-MI), which would repeal the reporting requirements under healthcare reform and pay for doing so by rescinding $44 billion in unobligated discretionary funds. This amendment was added to the "FAA Air Transportation Modernization and Safety Improvement Act," which continues to be debated by the Senate. This bill must pass the Senate and the House of Representatives before it can be presented to the President to be signed into law. Please know that I will keep your comments in mind as I continue to monitor the progress of this legislation.
Once again, thank you for writing. If you have any further questions, please do not hesitate to contact my Washington, D.C. office at (202) xxx-xxxx. Best regards.
Sincerely yours,
Dianne Feinstein
United States Senator"
would repeal the reporting requirements under healthcare reform and pay for doing so by rescinding $44 billion in unobligated discretionary funds.
I interpret this statement as a blatant admission that they were looking to stick it to us for $44 billion in "unobligated discretionary funds", i.e., a slush-fund piggy bank funded by "us", for "them" to spend on "whatever the hell they want to spend it on", probably buying votes and doling out bribes to their new best friends, wherever they find them.
This has to stop.
I knew it would happen.
Politics is the art of compromise.