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In a statement, the White House said it was "pleased Congress has acted to correct a flaw that placed an unnecessary bookkeeping burden on small businesses."
In a statement, the White House said it was "pleased Congress has acted to correct a flaw that placed an unnecessary bookkeeping burden on small businesses."
Exactly. It was a HUGE flaw. The law stated that all companies would have to issue 1099s to every single vendor to whom they paid $600 or more in a calendar year...whether or not that vendor was a corporation, small business, individual...anybody. Calling it misguided is being kind. I can't believe it took months of wrangling to get it passed. Can't we ever do anything without partisan crap?
Exactly. It was a HUGE flaw. The law stated that all companies would have to issue 1099s to every single vendor to whom they paid $600 or more in a calendar year...whether or not that vendor was a corporation, small business, individual...anybody. Calling it misguided is being kind. I can't believe it took months of wrangling to get it passed. Can't we ever do anything without partisan crap?
more to the point;why was this written in in the first place?
Not to mention the extra cost to the govt to have to track this information.