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Nebraska Senator wants to repeal paperwork mandate
Nebraska Senator Mike Johanns has introduced legislation that would repeal a tax reporting provision included in the new health care law.
According to Johanns, the provision greatly expands the types of business transactions covered by tax reporting requirements. He says it will force farmers, ranchers and small business owners to file 1099 forms if they purchase 600 dollars or more in goods from another business throughout the year. Johanns made his case during a speech on the Senate floor.
“This new provision is a one-two punch for our small businesses,” Johanns says. “It will require them to spend more money—and time—in paperwork and reporting. It does nothing to create jobs—other than maybe at the Internal Revenue Service.”
Omaha CPA Mike McFarlin told the Omaha World Herald that the new provision would be “an administrative nightmare” for small businesses to implement.
Nebraska’s three House members—Lee Terry, Jeff Fortenberry and Adrian Smith—are co-sponsors of a House bill that would repeal the new requirements. If it is not repealed, the 1099 provision would take effect in 2012.
Well guess what Mike – none of you cared to listen to the millions of objections before the bill passed & I see Dem. Ben Nelson managed to be a hold out vote again the other day until he changed his mind. My question is, did he get his standard $100 million dollar fee to change his mind? Frankly, I think Nebraskans all pretty much corrupt! Did you really think Nebraskans were going to be immune from the h – – l you dished out to the rest of the country?