Ear marks on obamas health care program - Page 2
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Old 03-24-2011, 01:15 AM   #11
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I thought the 1099 requirement was if you are a business doing business with another business?

As far as PM goes....if you go to flea markets, farmers markets or "sale Barns" you will notice a huge increase in PM dealers there.

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Old 03-24-2011, 04:48 AM   #12
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There will be alot of cash under the table transactions. This 1099 is going to hit both sides in the shorts and create more work for the IRS, even with the 16,000 more personnel on the books!

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Old 03-24-2011, 04:30 PM   #13
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Quote:
Originally Posted by Bigcountry02 View Post
There will be alot of cash under the table transactions. This 1099 is going to hit both sides in the shorts and create more work for the IRS, even with the 16,000 more personnel on the books!
In theory, these reporting requirements are designed to catch business people (particularly in the service industries) not reporting income that they should be reporting under current law already aka "cash uner the table transactions" & such. It does seem a bit ridiculous and burdensome to the non-tax cheats amongst us. I predict HEAVY modifications in the next year or so with fine-tuning to follow.

I may fudge on some areas of the law, but i pay my taxes. I figure, since i haven't served in the armed forces or as an unpaid civil servant, i owe something on the maintenance bill for this country (even if most of it seems to get wasted on crap).
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