The coming 1099 mess
This will be an undue burden on taxpayers and filers.
Remember, I do this to entertain me, not you.
Uncle Pays the Bills
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January 25th, 2011 at 10:59 am
Hell, I’ve only got two employees and I’m probably going to have to 1099 McDonalds from buying them lunch now and again.
January 25th, 2011 at 11:43 am
Obamacare is a money pit and they need the 1099s to impose a Value Added Tax.
Am sure the economy will roar back once a 20% tax is added to every stage of production/delivery.
January 25th, 2011 at 1:46 pm
is there any reason we haven’t burned down the IRS yet?
January 25th, 2011 at 1:48 pm
Ugh.
Let’s see, at my office:
3 separate office supply vendors
– the copier company
– 2 or 3 publishing companies (legal books and supplements cost an arm and a leg, so just 2 or 3 updates in a year can easily exceed $600)
– the phone company
– our IT guy (outside source)
That’s just off the top of my head, and we only have seven people working here (4 attorneys and 3 paralegals). I can’t imagine what a larger small business would have to deal with, especially if they produce a physical product!
Stretch is right, this looks like the preliminary setup for a backdoor VAT.
January 25th, 2011 at 4:39 pm
Stretch nailed it. Wait for it … “We can implement a VAT quickly and without additional cost cuz all of the paperwork required is already in place.”
January 27th, 2011 at 6:57 pm
Somebody burned down the IRS here in Colorado Springs. They went to jail and the IRS got new offices. Not that I’m necessarily opposed mind, it just didn’t do much good here.