1099 Repeal - is the Saga FINALLY Over?

[Katrina M Harrell-Biz Strategist]

Well according to the latest Congress vote IT IS! Seems all the fussing and crying by ordinary business people and those who fight on our behalf truly paid off. The 1099 Repeal Passed Congress and the House and President Obama is expected to sign the repeal soon. According to a recent article posted by Dan Danner of NFIB,

"Had this regulatory burden survived, you would have been saddled with one of the worst mandates ever to come out of Washington. It would have robbed you and your fellow entrepreneurs of countless hours that you must have to manage and grow your business. It would have forced you to become an arm of the Internal Revenue Service, collecting information on your vendors and handing over reams of needless paperwork to federal bureaucrats who would have made your lives even worse with petty challenges…not to mention feeding your company’s information into the government’s bottomless data collection system from which additional problems could be raised years from now."

Seems now we don't have this headache to worry about. But the question still remains if government still truly understands or "gets" the issues of small business and if they don't, what other burdensome regulations are around the bend? I don't know, but what I do know is that I can tell my clients that for now, 1099-Misc only go out to non incorporated entities that you've paid $600 or more. :-)

Katrina M. Harrell
CEO & Founder, Your Simple Bookkeeper

[Bill Laundon]

Thanks for the update Katrina. Let's hope this dragon will finally die. As to whether the Feds "get it", I'd have to say-NO. Otherwise this same group would have never passed such ludicrous legislation. If only we could have spent the time and money wasted on this toward constructive dialogue aimed at reducing the National debt, we wouldn't be looking at this impending shutdown.

It's time for leadership that represents the people regardless of political affiliation. If this group does not understand, let's vote them all out & try again. That is one of our country's greatest strengths.

[Angel Lebak ~ Virtual Assistant]

Katrina....YAY!! That was a nightmare for the small business owner. To answer your question...No, they don't understand small business or it would have been viewed for what it was more regulation for an already saddled group of individuals! Great share! Thanks