Section 9006 of the health care law mandates that every business, charity, and local and state government entity submit 1099 forms for business transactions totaling $600 or more in a given year. The new mandate adds routine business expenses like phone, office products, shipping costs, etc. thereby substantially increasing businesses' reporting requirements. The law takes effect on January 1, 2011 Smart practitioners are already coaching their clients so they will have records ready to meet the new requirements. I’ve visited with several entrepreneurs about this new requirement and the kindest response was something along the lines of “what idiot thought THAT was a good idea?” Other comments were, let’s just say …. more colorful!
If you’re asked please tell your clients EXACTLY whom to blame. Here’s the list of the NAY votes on the final attempt to repeal this nonsensical requirement. Now you can your friends and clients who the idiot was that thought THAT was a good idea!
The following Senators voted AGAINST repeal of Section 9006 …. be sure to ask them WHY!!!