Changes to the health-care bill already - GoFuckYourself.com

Sly · 07-31-2010, 07:22 AM

I wonder how many more tucked away items we will see come out.

--

WASHINGTON ? Tucked into the new health care law is a requirement that could become a paperwork nightmare for nearly 40 million businesses.

They must file tax forms for every vendor that sells them more than $600 in goods.
The goal is to prevent vendors from underreporting their income to the Internal Revenue Service. The government must think vendors are omitting a lot because the filing requirement is estimated to bring in $19 billion over the next decade.

Business groups say it will swamp their members in paperwork, and Congress is listening. Democrats and Republicans want to repeal it, but getting them to work together on the issue is proving difficult in an election year.

http://news.yahoo.com/s/ap/us_tax_surprise

MK Ultra · 07-31-2010, 07:57 AM

Welcome to Government Regulated Heathcare!
we really need to repeal that piece of shit

epitome · 07-31-2010, 08:02 AM

We need a law that says a bill can only address one thing. Slipping anything unrelated to health care into a health care bill should not be allowed.

bbobby86 · 07-31-2010, 09:05 AM

government government...

Dvae · 07-31-2010, 09:39 AM

"Obama: 'Only government' can solve nation's ills".

Amputate Your Head · 07-31-2010, 09:41 AM

ummmm.... isn't this already required by the IRS? Isn't it called a 1099?

EDIT: okay, re-reading.... wait now.... so, they want you to fill out forms for being the buyer of more than $600 in goods? This seems redundant, because aren't you reporting purchases/expenses on your tax returns already? And why would anyone not report an expense? Something isn't adding up here.

Vendzilla · 07-31-2010, 09:42 AM

and you thought 2300 pages was a good thing?

the declaration of independence in on one page

Vendzilla · 07-31-2010, 09:43 AM

Quote:

Originally Posted by Amputate Your Head

ummmm.... isn't this already required by the IRS? Isn't it called a 1099?

thats for labor

Amputate Your Head · 07-31-2010, 09:50 AM

Okay, so I read the actual article now. Looks like neither side wants this thing, it's just being used as a tool by both dems & conserves to try push what each of them really wants.

Quote:

Businesses that repeatedly make small purchases from the same vendor would have to keep good records in case the total exceeded $600 in a year.

This is stupid. Businesses already report their expenses.

Quote:

Companies would also have to get vendors' tax identification numbers to include in the filings.

Why? Why should we do someone else's work for them? A standard receipt, with name, date, etc of vendor is plenty. If they want to track them down, then let them do it. And how the fuck do you accomplish this anyway? "Hey Amazon, what's your EIN?" Yeah right.

Quote:

"Tax paperwork and compliance are already major expenses for small businesses," a coalition of 80 business groups recently wrote lawmakers. "This new and expanded requirement means that almost every business-to-business transaction is potentially reportable to the IRS."

I'm sure the IRS would argue that every transaction already is reportable. This does nothing that isn't already going on.

And here's the real deal:

Quote:

Republicans want to repeal the filing requirement and pay for it by changing other parts of the new health care law, a strategy that Democratic leaders won't support. Democrats want to repeal the filing requirement and pay for it by raising taxes on international corporations and limiting taxpayers' ability to use special trusts to avoid gifts taxes. Republicans won't support that.

SallyRand · 07-31-2010, 10:08 AM

The bill does refer to 1099s, which must by law be sent to each and every person or business entity that you pay over $600 in one year. 1099s cover amounts for which there are no required witholdings and may be for labor, services or materials. Talk about unintended consequences, by the terms of this law, if you bought $601.00 worth of parts at the auto parts store, you are technically required to send them a 1099!

Big Brother wants to know where ALL of your money is and where ANY of it goes!

And where did you people get the idea that the monstrosity in question is any kind of a "Health Care" bill? It only mandates that everyone PURCHASE health insurance and really provides NO medical care for most people. It's only a boon to the insurance companies!

Sally.

Vendzilla · 07-31-2010, 10:11 AM

the government just wants more over sight, thats what the government does, which costs more, but no worries, we don't have to pay for it, right?

Brujah · 07-31-2010, 10:29 AM

Quote:

Originally Posted by Vendzilla

the government just wants more over sight, thats what the government does, which costs more, but no worries, we don't have to pay for it, right?

They want more oversight for you, but none for the Federal Reserve or SEC? Figures.

07-31-2010, 07:22 AM	#1
Sly Let's do some business! Industry Role: Join Date: Sep 2004 Location: Austin, TX Posts: 31,323	Changes to the health-care bill already I wonder how many more tucked away items we will see come out. -- WASHINGTON ? Tucked into the new health care law is a requirement that could become a paperwork nightmare for nearly 40 million businesses. They must file tax forms for every vendor that sells them more than $600 in goods. The goal is to prevent vendors from underreporting their income to the Internal Revenue Service. The government must think vendors are omitting a lot because the filing requirement is estimated to bring in $19 billion over the next decade. Business groups say it will swamp their members in paperwork, and Congress is listening. Democrats and Republicans want to repeal it, but getting them to work together on the issue is proving difficult in an election year. http://news.yahoo.com/s/ap/us_tax_surprise __________________ Vacares - Web Hosting, Domains, O365, Security & More - Paxum and BTC Accepted Windows VPS now available Great for TSS, Nifty Stats, remote work, virtual assistants, etc. Click here for more details.

07-31-2010, 07:57 AM	#2
MK Ultra Confirmed User Join Date: Jun 2007 Posts: 877	Welcome to Government Regulated Heathcare! we really need to repeal that piece of shit __________________

07-31-2010, 09:05 AM	#4
bbobby86 partners.sexier.com Industry Role: Join Date: Jan 2007 Location: San Francisco, CA Posts: 11,926	government government... __________________

07-31-2010, 09:41 AM	#6
Amputate Your Head There can be only one Industry Role: Join Date: Aug 2001 Location: Somewhere else Posts: 39,075	ummmm.... isn't this already required by the IRS? Isn't it called a 1099? EDIT: okay, re-reading.... wait now.... so, they want you to fill out forms for being the buyer of more than $600 in goods? This seems redundant, because aren't you reporting purchases/expenses on your tax returns already? And why would anyone not report an expense? Something isn't adding up here. __________________ SIG TOO BIG Last edited by Amputate Your Head; 07-31-2010 at 09:44 AM..

07-31-2010, 09:42 AM	#7
Vendzilla Biker Gnome Industry Role: Join Date: Mar 2004 Location: cell#324 Posts: 23,200	and you thought 2300 pages was a good thing? the declaration of independence in on one page __________________ Webair died? Carbon is not the problem, it makes up 0.041% of our atmosphere , 95% of that is from Volcanos and decomposing plants and stuff. So people in the US are responsible for 13% of the carbon in the atmosphere which 95% is not from Humans, like cars and trucks and stuff and they want to spend trillions to fix it while Solar Panel plants are powered by coal plants think about that

07-31-2010, 08:02 AM	#3
epitome So Fucking Lame Industry Role: Join Date: Jun 2009 Location: St. Petersburg, FL Posts: 12,156	We need a law that says a bill can only address one thing. Slipping anything unrelated to health care into a health care bill should not be allowed.

07-31-2010, 09:39 AM	#5
Dvae Confirmed User Industry Role: Join Date: Feb 2005 Location: US Posts: 5,326	"Obama: 'Only government' can solve nation's ills".

07-31-2010, 10:08 AM	#10
SallyRand So Fucking Banned Industry Role: Join Date: Jan 2008 Location: In A Galaxie Far, Far Away! Posts: 3,487	The bill does refer to 1099s, which must by law be sent to each and every person or business entity that you pay over $600 in one year. 1099s cover amounts for which there are no required witholdings and may be for labor, services or materials. Talk about unintended consequences, by the terms of this law, if you bought $601.00 worth of parts at the auto parts store, you are technically required to send them a 1099! Big Brother wants to know where ALL of your money is and where ANY of it goes! And where did you people get the idea that the monstrosity in question is any kind of a "Health Care" bill? It only mandates that everyone PURCHASE health insurance and really provides NO medical care for most people. It's only a boon to the insurance companies! Sally. Last edited by SallyRand; 07-31-2010 at 10:10 AM..

07-31-2010, 10:11 AM	#11
Vendzilla Biker Gnome Industry Role: Join Date: Mar 2004 Location: cell#324 Posts: 23,200	the government just wants more over sight, thats what the government does, which costs more, but no worries, we don't have to pay for it, right? __________________ Webair died? Carbon is not the problem, it makes up 0.041% of our atmosphere , 95% of that is from Volcanos and decomposing plants and stuff. So people in the US are responsible for 13% of the carbon in the atmosphere which 95% is not from Humans, like cars and trucks and stuff and they want to spend trillions to fix it while Solar Panel plants are powered by coal plants think about that