The IRS Wants to Hear From You!

Here’s a chance to speak your mind about the expanded 1099 reporting that got wrapped up in the sweeping healthcare legislation passed earlier this year. The IRS is requesting public comments in order to “implement these changes . . . in a manner that minimizes burden and avoids duplicative reporting.”

My suggestion?

Repeal that part of the law (or the whole law, for that matter) and you won’t have to worry about minimizing burden and duplicate reporting.

For those of you who haven’t been following this issue, the new healthcare law requires companies to start issuing 1099s for any person or corporation with whom you do more than $600 worth of business in a year. The requirement goes into affect in 2012. Previously, 1099s were required only for independent contractors. For a full picture of the ramifications for small businesses, click here.

Rep. Daniel Lungren (R-CA) has introduced a bill (H.R. 5141) to repeal the new requirement. His Small Business Paperwork Mandate Elimination Act has been referred to the House Ways and Means Committee.

So, if you don’t want the additional burden of the paperwork this law is mandating, take a few minutes now to voice your opposition of the requirement and your support of Rep. Lungren’s proposed bill.

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About Smart Companies Thinking Bigger®

Kelly Scanlon is the owner and publisher of Thinking Bigger Business Media. She recently finished a term on the national board of directors of the National Association of Women Business Owners, and was the national chair from 2010-2011. An advocate for small business owners, Kelly sits on numerous boards and committees to advocate on behalf of small business owners. She has won several awards for her advocacy. Among them are the 2011 United Nations NGO Positive Peace Award on behalf of Kansas City area small business owners, the U.S. Small Business Administration's Region VII Women's Business Champion of the Year in 2009, and the Women in Business Advocate of the Year from the State of Kansas in 2006. In 2002, she won the SBA's Region VII Small Business Journalist of the Year Award (Missouri, Iowa, Nebraska, Kansas). Whatever your business stage—aspiring, startup, established, mature—Thinking Bigger Business Media has the resources you need to grow to the next level. We are a resource organization dedicated to providing the strategic, "how-to" information small business owners need to become more productive and more profitable. We also provide information that helps owners connect with resources within the business community that can help them grow. We deliver that information through a variety of media products and other channels easily accessible to business owners.
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