The 1099 provision refers to the justly reviled clause in Obamacare (section 9006) that compels any business spending at least $600 on a supplier to issue a 1099 to that supplier. So, if my consulting business buys $600 worth of office supplies from Staples, I’m supposed to issue Staples a 1099!
It’s supposed to raise some tax revenue by giving the IRS more accurate information about business transactions, but it’s an easy target for a “mini-repeal” of an obviously ridiculous provision of Obamacare.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Repeal Obamacare’s 1099 Reporting Provision? No Way!
John R. Graham
The 1099 provision refers to the justly reviled clause in Obamacare (section 9006) that compels any business spending at least $600 on a supplier to issue a 1099 to that supplier. So, if my consulting business buys $600 worth of office supplies from Staples, I’m supposed to issue Staples a 1099!
It’s supposed to raise some tax revenue by giving the IRS more accurate information about business transactions, but it’s an easy target for a “mini-repeal” of an obviously ridiculous provision of Obamacare.
Read more here.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.