1. Attention: We have put together a thread with tips and a tutorial video to help with using the new software. Please take a moment to check out the thread here: Trapshooters.com Tutorial & Help Video.
    Dismiss Notice

Congress repeals mandatory 1099 for $600.00

Discussion in 'Politics, Elections & Legislation' started by pyrdek, Feb 15, 2011.

Thread Status:
Not open for further replies.
  1. pyrdek

    pyrdek Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    2,296
    Call me cynical but I figured the very first time I heard about this that it was simply put into the original bill to be a throw away so the politicians could beat their chests and show the world (or at least the non-thinking voters) just "How great they are and how responsive to the people". In other words it was nothing but a Bu(( Sh!! maneuver.

    Any think politician would have realized right from the start that this 1099 @ $600 crap would generate a large public outcry and they could use this public response to provide cover to NOT act on some other even more destructive portion of the law!
     
  2. 870

    870 Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    2,390
    Edit: I don't see where this has happened yet, but I'm sure it will.

    Just to be sure we are accurate here, this repeal deals with the huge 1099 expansion that the health reform law contained. It has nothing to do with the $600 threshold. It would be a real headache and extra cost to track these expanded payees needing 1099's (corporations, vendors of products instead of just services etc.). Glad it is going to disappear.

    It won't have any affect on the already existing 1099 rules, such as is often discussed here (winnings of $600 etc.)
     
  3. 870

    870 Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    2,390
    Deleted - wasn't making a point.
     
Thread Status:
Not open for further replies.