SBE Council Urges President Obama to Quickly Sign H.R. 4
If President Barack Obama signs H.R. 4 into law, small business owners will finally be able to breathe a sigh of relief as the paperwork nightmare they now fear will not overtake their businesses or lives starting in 2012. The U.S. Senate overwhelmingly passed H.R. 4 by a vote of 87-12, a House-passed bill that repeals the expanded 1099 reporting mandate in the Patient Protection and Affordable Care Act (PPACA). H.R. 4 also repeals an expanded 1099 reporting requirement for certain rental property that was advanced as part of the “small business jobs” legislation in September 2010.
SBE Council urges President Obama to quickly sign the repeal legislation.
As I said in a statement that was released immediately following Senate passage of H.R. 4:
“The universally reviled 1099 provision is almost gone, and with good reason. Small business owners are incensed that they would be overwhelmed by mind-numbing paperwork when they are already overburdened by government regulation and compliance costs. The provision made absolutely no sense, and small business owners are pleased that most members of Congress see it their way.”
The expanded reporting provision in PPACA mandates that small business owners file a 1099-MISC form to the Internal Revenue Service (IRS) for all payments made to vendors totaling $600 or more in a tax year. Likewise, as passed in the small business lending bill, individuals that receive rental income are now required to distribute and file 1099s on payments made in excess of $600 annually. Small business owners expressed outrage regarding these onerous paperwork requirements, which will add significant costs to their operations. SBE Council has run a successful Repeal campaign, where thousands of small business owners signed the Petition to Repeal the onerous 1099 mandate.
Given the overwhelming and bipartisan support that H.R. 4 received in both the House and the Senate, President Obama must sign this legislation into law. SBE Council is confident he will.
Karen Kerrigan, President & CEO
Showing posts with label 1099 paperwork burden. Show all posts
Showing posts with label 1099 paperwork burden. Show all posts
Tuesday, April 05, 2011
1099 Nightmare Could be Gone Soon! KEY VOTE in Senate
Vote is scheduled today on 1099 Repeal in U.S. Senate...bill could go to President Obama's desk with 60 votes
As part of the small business research legislation being debated today, the U.S. Senate will vote on the House-passed bill to fully repeal the expanded 1099 reporting mandate that is in the new health care law (Patient Protection and Affordable Care Act). The vote on H.R. 4 also repeals the expanded 1099 reporting requirement for rental property that was advanced as part of the "small business jobs act" in September 2010.
Many of you have been calling your U.S. Senators urging that they vote for H.R. 4 - THANK YOU! We have the opportunity to fully rid small business owners of this paperwork nightmare if 60 Senators vote for H.R. 4. The bill would then go to President Obama's desk for his signature.
However, and as we note below in our KEY VOTE letter to all U.S. Senators, an alternative amendment is being offered to counter H.R. 4 - the Menendez amendment. This amendment would "study the issue" before moving to repeal. What's there to study? The expanded 1099 reporting mandate will be a paperwork nightmare for America's small business owners.
Calls are still needed to the Senate: If you have not done so yet, please call your U.S. Senators using the Capitol Hill switchboard at 202-224-3121, and urge them to vote for H.R. 4 - the 1099 repeal bill, and against the Menendez amendment, which will not relieve small business owners of the massive paperwork requirement stemming from the new health care law.
For those of you who have responded to our action request - THANK YOU!
TEXT OF SBE COUNCIL's KEY VOTE LETTER to the U.S. Senate:
KEY VOTE ALERT: Support Small Business Jobs and Growth
Vote for H.R. 4 to Repeal the Costly 1099 Paperwork Burden
April 4, 2011
Dear United States Senator:
On behalf of the Small Business and Entrepreneurship Council (SBE Council) and its nearly 100,000 members nationwide, I urge you to vote for H.R. 4, the "Small Business Paperwork Mandate Elimination Act of 2011," and to oppose the Menendez Amendment.
Passing H.R. 4 is the only solution that will help protect small business owners from the crushing paperwork burden that has been spawned by Section 9006 of the Patient Protection and Affordable Care Act (PPACA).
The expanded reporting mandate in PPACA mandates that small business owners file a 1099-MISC to the Internal Revenue Service (IRS) for all payments made to vendors totaling $600 or more in a tax year. This unreasonable reporting mandate will vastly increase costs and paperwork burden for small business owners. Entrepreneurs will be forced to devote significant time and resources on tedious compliance activity, which will serve as a drag on business growth and competitiveness.
SBE Council will KEY VOTE H.R. 4 for our Small Business Ratings of the 112th Congress. A vote for H.R. 4 is a vote for our nation's entrepreneurs.
SBE Council believes the Menendez amendment would prolong uncertainty and force small business owners to expend resources in preparation for potential compliance in 2012. Does it really take a government study to understand the obvious burden this massive compliance mandate places on small business owners and our economy? Small business owners oppose anything less than complete, immediate and certain repeal of Section 9006 of PPACA.
SBE Council surveys of member companies found that the 1099 reporting mandate will increase the paperwork burden by more than 1000 percent for some firms, while accounting costs will double and quadruple in many cases. Business owners report that they will cut jobs, raise prices and be forced to devote more of their personal time to mind-numbing paperwork rather than growing their firms.
Please stand with small business and vote for H.R. 4. Thank you, in advance, for your support of America's small business owners and entrepreneurs.
Sincerely,
Karen Kerrigan, President & CEO
We can repeal the paperwork nightmare -- today! Please call your Senators at 202-224-3121. Tell them voting for H.R. 4 is the only solution to relieve small business owners from the massive paperwork burden created by the new health care law!
Karen Kerrigan, President & CEO
As part of the small business research legislation being debated today, the U.S. Senate will vote on the House-passed bill to fully repeal the expanded 1099 reporting mandate that is in the new health care law (Patient Protection and Affordable Care Act). The vote on H.R. 4 also repeals the expanded 1099 reporting requirement for rental property that was advanced as part of the "small business jobs act" in September 2010.
Many of you have been calling your U.S. Senators urging that they vote for H.R. 4 - THANK YOU! We have the opportunity to fully rid small business owners of this paperwork nightmare if 60 Senators vote for H.R. 4. The bill would then go to President Obama's desk for his signature.
However, and as we note below in our KEY VOTE letter to all U.S. Senators, an alternative amendment is being offered to counter H.R. 4 - the Menendez amendment. This amendment would "study the issue" before moving to repeal. What's there to study? The expanded 1099 reporting mandate will be a paperwork nightmare for America's small business owners.
Calls are still needed to the Senate: If you have not done so yet, please call your U.S. Senators using the Capitol Hill switchboard at 202-224-3121, and urge them to vote for H.R. 4 - the 1099 repeal bill, and against the Menendez amendment, which will not relieve small business owners of the massive paperwork requirement stemming from the new health care law.
For those of you who have responded to our action request - THANK YOU!
TEXT OF SBE COUNCIL's KEY VOTE LETTER to the U.S. Senate:
KEY VOTE ALERT: Support Small Business Jobs and Growth
Vote for H.R. 4 to Repeal the Costly 1099 Paperwork Burden
April 4, 2011
Dear United States Senator:
On behalf of the Small Business and Entrepreneurship Council (SBE Council) and its nearly 100,000 members nationwide, I urge you to vote for H.R. 4, the "Small Business Paperwork Mandate Elimination Act of 2011," and to oppose the Menendez Amendment.
Passing H.R. 4 is the only solution that will help protect small business owners from the crushing paperwork burden that has been spawned by Section 9006 of the Patient Protection and Affordable Care Act (PPACA).
The expanded reporting mandate in PPACA mandates that small business owners file a 1099-MISC to the Internal Revenue Service (IRS) for all payments made to vendors totaling $600 or more in a tax year. This unreasonable reporting mandate will vastly increase costs and paperwork burden for small business owners. Entrepreneurs will be forced to devote significant time and resources on tedious compliance activity, which will serve as a drag on business growth and competitiveness.
SBE Council will KEY VOTE H.R. 4 for our Small Business Ratings of the 112th Congress. A vote for H.R. 4 is a vote for our nation's entrepreneurs.
SBE Council believes the Menendez amendment would prolong uncertainty and force small business owners to expend resources in preparation for potential compliance in 2012. Does it really take a government study to understand the obvious burden this massive compliance mandate places on small business owners and our economy? Small business owners oppose anything less than complete, immediate and certain repeal of Section 9006 of PPACA.
SBE Council surveys of member companies found that the 1099 reporting mandate will increase the paperwork burden by more than 1000 percent for some firms, while accounting costs will double and quadruple in many cases. Business owners report that they will cut jobs, raise prices and be forced to devote more of their personal time to mind-numbing paperwork rather than growing their firms.
Please stand with small business and vote for H.R. 4. Thank you, in advance, for your support of America's small business owners and entrepreneurs.
Sincerely,
Karen Kerrigan, President & CEO
We can repeal the paperwork nightmare -- today! Please call your Senators at 202-224-3121. Tell them voting for H.R. 4 is the only solution to relieve small business owners from the massive paperwork burden created by the new health care law!
Karen Kerrigan, President & CEO
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