Daily Archives: July 13, 2010

Businesses Must Now File 1099 IRS Forms With Vendors To Pay For Obamacare

IRS starts mopping up Congress’s tax-reporting mess.  CNN.

Well now, it looks like the deluge of paperwork from the Democratic passage of the Health Reform Care bill is about to hit small business across America like lightning.  It was sneaky getting this little doozy into the bill. 

This is how Democrats figured they could come up with some cash to pay for all that health care for everyone who is not already paying for it themselves. 

Saddle every business in America with additional 1099 forms.  You know, those pesky forms that any business has to fill out and file with both the IRS AND any vendor who has bought services or goods for over $600 per year. 

For any business that can easily add to all the other multitude of tax and business paperwork that must be filed.  Taxes and paperwork come in a range of types.  Payroll.  940.  941.  1040.  433.  State income tax.  Unemployment forms.   That’s just to name a few, and does not even take into account all the other paperwork of licences, registrations, etc. involved in any occupation. 

But filing with BOTH the feds AND the vendors could be another monumental task already enormous for the average businessman, let alone a small businessman.  Big business will just pass it on to the accounting section.  Small businesses often times manage by themselves.  Barely.  A Mom and Pop bakery business can easily rack up business or services with at least 100 vendors.   Instead of focusing on their business now, they will be laboring over paperwork.  Or paying an accountant.  Whose bill will be paid by the business.  Who will then pass it on to you, the consumer.

So it looks like Obamacare has now stuck it to small businesses across America, by more burdensome paperwork.  And of course, the consumer.