http://www.marketwatch.com/story/obama-health-plan-tax-draws-bipartisan-repeal-move-2010-08-04?reflink=MW_news_stmp

Hopefully the bipartisian repeal movement works. The 1099k changes that go into effect in 2012 would either spell the death of many small businesses, or it would have to be ignored and result in audits and penalties. This article does not cover the entire scope of it either - it works both ways.

Companies with more than 20,000 in credit card transactions with more than 100 transactions a year would have to file forms to report it; (I would have to read the actual legislation again, I think it was reporting purchases by each customer).

All companies would have to file forms whenever they spent more than $600 on anything, at the time they paid for it - including lease payments. It would require the EIN or other identifying number of the company the service or good was purchased from.

Just something to keep your eye on for our business owners out here. If it doesn't get repealed, you better have a briefcase with you of several hundred forms at all times if you run a business of any size. (ya right). I forget, estimated costs of form preparation for even small scale businesses was estimated at $6,000 just for this. Medium sized businesses (still small businesses) with a fair amount of transactions would run into the $40-$50,000 range.

On top of this you have States - like Colorado - that now require companies to notify customers in the State of how much was purchased in a given year, even if the company has no branch or operation inside the State. If that movement grows to the national scale with more States signing on, the paperwork overhead to run a business will be insurmountable between it all.

It's the Progressive way to institute "Redistribution" and bring about Marxism.

That's what everyone of these bills written by former domestic terrorists have been about at the core.

They already control Education, Next Heathcare, And then the new Finance Bill signed in the Reagan building while the man was spinning in his grave.....Cap & Tax is on the back burner, But they're still looking to bring it in under EPA regulations and regulate "Carbon" as being dangerous.

...........And the Executive Branch has pretty much made the Legislative branch irrelevent.

I'm not sure why the government would want to be up small business' asses. They are up large corporations asses and they fail and corrupt everyday. It's small businesses that provide the vast majority of jobs in this country and I guess they aim to increase the unemployment numbers further??? Dipshits.