In an earlier post I spoke out about the paperwork burden that Obamacare was certain to impose on all of us. Here’s another specific example: Health care law’s massive, hidden tax change Under this provision hidden in the law’s 2,400 pages all purchase transactions of $600 or more in goods or services would trigger the need for the buyer/payer to submit a 1099 form to the IRS and the seller. So under this law if you stock your shop with goods from 500 suppliers over a year’s time, and you buy more than $600 worth of goods from any supplier, you’d have to send out 1099s to and for each such supplier. You’d have to maintain records of the aggregate purchases from each supplier. Then, at the end of the year you’d have to comb through these records and mail out 1099 forms, maybe hundreds of them. Then comes an audit where you’d have to justify the accuracy of your
involuntary servitude clerical work. And if you’re on the receiving end of these 1099s, heaven help you if one or more gets lost in the mail.
This is another of those government-growth-goodies that lurk in the health reform law. And can some Democrat policy wonk tell me why this is part of the health reform law — other than as a massive attempt to grab additional revenue?