22 July 2010
Sneaky Provision in the Heath Care Bill
Posted by admin under: Politics .
The new health care bill included a small section (reference Section 9006) that mandates all companies to issue 1099 forms for all payments — not just services — and for all vendors, including corporations, for all transactions over $600.
This provision is on the surface, a creative way for the IRS to collect tax on the vast cash underground. But, it goes beyond that seemingly innocent goal. Do you think the IRS knows about all flea markets, trappers conventions, etc. where cash is exchanged without any paper trail? You betcha.
Agents are being trained.
This is just the beginning. All goods sold in certain markets (guns for one)above a certain dollar value will have an RFID chip to track the product from manufacture, to seller, to buyer. This technology is already working (anti shop lifting chips in products are RFID.)
The bottom line is starting in 2012, YOU will have to crap out endless paperwork, at your expense, or face massive cash penalties.
