Obama’s Stealth Economy Killer Hidden In Health Care Bill: 1099 Reporting Expanded

So, what is a 1099 form? Presently a 1099 is given to non-employees who provide labor to a business. In this way the IRS can assure that someone paid by a business actually follows the tax code and reports their income from that work. In other words, it is sort of a tattle-tale stipulation in the nations tax system; a system which is proclaimed to be based on “voluntary” compliance. Try NOT volunteering and see what happens. Many have tried but none, to my knowledge have escaped the clutches of the IRS.
So why is this new 1099 form requirement a problem? Simply because it will require a whole new set of records to be maintained by virtually every business in the United States, and before business can be transacted, a process of IRS tax-related information sharing must take place. So, you want to buy ten widgets from a company on the Internet for $61 apiece? First, you have to get all their reporting information and file it for the IRS, then you buy the widgets, then you generate a 1099 form and send it to the IRS. It will be easier to shut down the business and find ways to comply with the many government social programs out there loudly proclaiming that they have money to give away, if only they can find people who will apply.
So, how can Uncle Sam create jobs rather than destroying jobs? The government could return to the original promises that were made when the Constitutional Amendment was proposed that began this slippery slide into the paperwork abyss. The promise was that only the “rich” would be affected, no regular citizen would be required to do anything. So, with that in mind, how about eliminating ALL requirements for reporting to the IRS or paying taxes for all citizens netting less than $100,000 a year. Freedom loving business owners would spring out of the dark recesses into the glorious light of self-reliance. Imagine just starting a full-time business providing services and goods rather than starting an IRS directed, non-paid accounting firm that just so happens to be trying to make a little money to survive by engaging in some work on the side.

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About thegovophilemonitor

The larger the government, the smaller the individual.
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