Thanks to all of you who have visited SBE Council’s Stop1099.org website. You are helping us execute a successful campaign to repeal the nightmarish 1099 reporting mandate, which promises to overwhelm small business owners while destroying jobs and productivity in the process.
SBE Council is hearing from business owners nationwide regarding the devastating consequences of this forthcoming mandate (visit http://www.stop1099.org/ for more information), and SBE Council is adding signers everyday to our petition to Repeal Expanded 1099 Reporting which is helping to build momentum for repeal once Congress returns mid-September.
The Petition to Repeal Section 9006 of Public Law No. 111-148: If you have not signed the petition, please do so now! Forward the petition to your network, family members and friends.
September 14 Showdown: SBE Council is supporting Senator Johanns amendment (Amendment #4596) to the small business lending bill. This will be considered on September 14 when the Senate returns. The Senate will proceed to vote on the Motion to Invoke Cloture (60 votes needed) on Johanns, but it will also consider the bogus "compromise" amendment (the Nelson Amendment #4595), which does the following:
• Raises the threshold for reporting "property" from $600 to $5,000
• Exempts businesses with less than 25 employees from the "property" requirement
• But, the employee exemption and $5,000 threshold is NOT in effect for services-based contracts
• Raises taxes to pay for partial repeal
• Specifically, the tax hike is an energy tax increase and will ultimately be paid for by small business consumers in the form of higher energy prices
The 1099-MISC mandate will be a costly paperwork nightmare, and it must be FULLY repealed. The repeal should be complete, and not used as an excuse to raise other taxes.
Please sign the Petition to Repeal Expanded 1099 Reporting!
Karen Kerrigan, President & CEO
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