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View Full Version : Obama 1099's, the HC Bill and Obama's dumbass


petegz28
09-16-2010, 09:16 PM
So as I am getting into the rental property business I am researching to who and when I have to file a 1099. JFC! What a pain in the ****ing ass. Trying to identify who to 1099 and who not too is a real chore. Nothing is really clear in the IRS verbage. Anytime I pay someone over $600 I have to 1099 them if they are a contractor, attorney, or accountant. Ok, so if I buy carpet from Home Depot and they put it in do I have to 1099 them too? Where is the line drawn between contractor and not contractor? The answer is Yes and Doesn't matter.

Dig this shit...

Under the health legislation, the IRS could be receiving billions of more documents. Under current law, businesses send Forms 1099 for payments of rent, interest, dividends, and non-employee services when such payments are to entities other than corporations. Under the new law, businesses will be required to send a 1099 to other businesses for virtually all purchases. And for the first time, 1099s are to be sent to corporations. This is a huge new imposition on American business, costing the private economy much more than any additional tax that the IRS might collect as a result.

This is what our Dear Leader and Liberal Loons have done to businesses.

The House bill would extend the Form 1099 filing requirement to ALL vendors (including corporate) to which they pay more than $600 annually for services or property. Consider all the payments a small business makes in the course of business, paying for things such as computers, software, office supplies, and fuel to services, including janitorial services, coffee services, and package delivery services.

In order to file all these 1099s, you’ll need to collect the necessary information from all your service providers. In order to comply with the law, you would have to get a Taxpayer Information Number or TIN from the business. If the vendor does not supply you with a TIN, you are obligated to withhold on your payments.


AllI can say is Obama and anyone that supported this has their head so far up their ****ing ass it's insane. This is just pure ****ing insanity and it is going to be an extensive cost to the tax payer due to the increased costs that will be incurred by the IRS. Plus all the headaches that are sure to happen because of errors and etc. We are talking literally billions of 1099 forms every year that will be getting filed.


Whoever came up with this and supported it not only is doing harm to small businesses, they should be taken out and have the ever-loving crap kicked out of them with steel toed boots.

petegz28
09-16-2010, 09:21 PM
So if I go to Home Depot and buy paint, which I already have done among other things, and my annual costs to Home Depot are over $600, guess what? I HAVE TO 1099 THEM!

If I buy a new computer from Best Buy for my business, guess what? I HAVE TO 1099 THEM!

Thank you, Obama, you stupid, ignorant, dumb ass mother ****er! And Pelosi and whoever else thought this was a good idea. You literally put a burden on business unncecessarily for nothing! Way to help the economy you dumb ****s!

God damn, if I spend over $600 a year in gas at QT for a business vehicle, guess what? I HAVE TO 1099 THEM!!!

petegz28
09-16-2010, 09:25 PM
I wonder if I have to 1099 the county for property taxes???? This is just fucking crazy!

Hog Farmer
09-17-2010, 06:41 AM
You're worrying way too much ! Pay an accountant to take care of it. Well worth the money. But yes, Obama/Pelosi is not business friendly. But then again what do you expect from terrorists.

Jenson71
09-17-2010, 07:40 AM
Hi Pete, you don't need to file a 1099 for merchandise that you purchase at places like Best Buy or Home Depot.

http://www.irs.gov/pub/irs-pdf/i1099msc.pdf provides more information that you should find useful.

This statement from Cato: "Under the new law, businesses will be required to send a 1099 to other businesses for virtually all purchases. And for the first time, 1099s are to be sent to corporations." is clearly false.

If you have any other questions or concerns about the changes to 1099, I would encourage you to contact a local IRS office. http://www.irs.gov/contact/index.html?navmenu=menu3

Chief Henry
09-17-2010, 07:47 AM
Pete, you are showing racist tendencies.

petegz28
09-17-2010, 07:52 AM
Hi Pete, you don't need to file a 1099 for merchandise that you purchase at places like Best Buy or Home Depot.

http://www.irs.gov/pub/irs-pdf/i1099msc.pdf provides more information that you should find useful.

This statement from Cato: "Under the new law, businesses will be required to send a 1099 to other businesses for virtually all purchases. And for the first time, 1099s are to be sent to corporations." is clearly false.

If you have any other questions or concerns about the changes to 1099, I would encourage you to contact a local IRS office. http://www.irs.gov/contact/index.html?navmenu=menu3

Taht is what I thought as well. But I believe in 2011 that may change. We shall see. I jut know when I read that article from the an accountant that was saying "nearly all purchases" my jaw hit the floor.

Jenson71
09-17-2010, 07:57 AM
Taht is what I thought as well. But I believe in 2011 that may change. We shall see. I jut know when I read that article from the an accountant that was saying "nearly all purchases" my jaw hit the floor.

The change starts in 2012, for the record. But perhaps you should contact your representatives with your concern that it will be extended, though that seems like ungrounded speculation. Especially if you have a representative on the Small Business or Finance congressional committees. http://www.contactingthecongress.org/cgi-bin/committee_list.cgi?site=ctc

BucEyedPea
09-17-2010, 08:18 AM
Also, Waxman wants to start regulating gold sales. Boy, they want their hands on everything these totalitarians.