Congress had no problem sneaking in the now infamous 1099 expanding reporting requirements. But boy, they are having a devil of a time getting rid of it. The new rules, which expanded the reporting requirements significantly, were originally included in the health care bill passed over a year ago. The text, at Section 9006, was…
Taxpayer asks: Please tell me this isn’t so…..Under the new health care bill, all real estate transactions will be subject to a 3.8 % sales tax. This new tax is supposed to kick in 2013. taxgirl says: I’ve gotten a few questions about this so-called “real estate tax” lately. Concern about the “tax” has escalated…
We apparently haven’t seen the last of the efforts to repeal Section 9006 of the Patient Protection and Affordable Care Act. If the name doesn’t ring a bell, it’s better known as the provision in the health care law which expands existing reporting requirements for businesses to issue forms 1099 to individuals and corporations providing…
You know how when you go to the gym at the beginning of the year, you can’t get a spot on treadmill because all of the new folks determined to make a change? All filled with vim and vigor and the best of intentions? (They’re also the ones wearing Uggs on the treadmill and talking…
Taxpayer asks: I was in college until May, and have been supporting myself since. I just filed my taxes for free at turbotax.com, filed as an independent, and got the email that my return has been accepted. Then my parents told me that they claimed me as a dependent so that they could keep me…
This week, Republicans in the House voted to repeal the new health care law, setting up a showdown in the Senate and practically guaranteeing a veto from President Obama. Ahhh… This is what the new political landscape is going to look like, I guess. The measure to repeal the health care law was deemed so…
There will not be a vote on health care reform (and related taxes) this week. Speaker of the House John Boehner (R-OH) has issued this statement: Good morning. The thoughts and prayers of the House and the nation are with Congresswoman Giffords and her family. We’re also praying for the families of Judge Roll and…
Taxpayer asks: I heard today that the courts ruled Obamacare unconstitutional. Does that mean that we don’t have to worry about those new 1099s now? taxgirl says: There are a couple of pieces to this question. First things first: the health care bill is still law. Procedurally, what happened was that a federal court in…
Remember those expanded 1099 reporting requirements that were included in the health care bill? It was all anyone could talk about for quite awhile. Clearly underestimating the rage of voters and business owners, members of Congress (yes, the same ones that voted it in) vowed left and right to do away with it. Apparently, those…
And by “suddenly” I mean months later, after they passed it as part of a bill that they clearly didn’t read… But now that folks are ramping up their complaints over the new tax reporting requirement that was included, logically (not), in the health care bill, both Dems and the GOP have decided that they…
