doodle
03-03-2011, 11:56 PM
Good news.
Stephen Ohlemacher, Associated Press, On Thursday March 3, 2011, 12:17 pm EST
WASHINGTON (AP) -- An unpopular tax filing requirement for businesses that was included in the new health care law would be repealed under a bill headed for a vote in the House Thursday.
A provision tucked into the new law would require millions of businesses to file tax forms for every vendor that sells them more than $600 in goods each year, starting in 2012. The requirement is projected to raise nearly $25 billion over the next decade by ensuring that vendors pay their taxes. But lawmakers in both parties say it could create a paperwork nightmare for businesses and the Internal Revenue Service.
LINK (http://finance.yahoo.com/news/House-moves-to-repeal-tax-apf-99371286.html;_ylt=A0wNc9fH329NNk4ApQu7YWsA;_ylu=X 3oDMTE1N3JqN2plBHBvcwM2BHNlYwN0b3BTdG9yaWVzBHNsawN ob3VzZW1vdmVzdG8-?x=0&sec=topStories&pos=3&asset=&ccode=)
Stephen Ohlemacher, Associated Press, On Thursday March 3, 2011, 12:17 pm EST
WASHINGTON (AP) -- An unpopular tax filing requirement for businesses that was included in the new health care law would be repealed under a bill headed for a vote in the House Thursday.
A provision tucked into the new law would require millions of businesses to file tax forms for every vendor that sells them more than $600 in goods each year, starting in 2012. The requirement is projected to raise nearly $25 billion over the next decade by ensuring that vendors pay their taxes. But lawmakers in both parties say it could create a paperwork nightmare for businesses and the Internal Revenue Service.
LINK (http://finance.yahoo.com/news/House-moves-to-repeal-tax-apf-99371286.html;_ylt=A0wNc9fH329NNk4ApQu7YWsA;_ylu=X 3oDMTE1N3JqN2plBHBvcwM2BHNlYwN0b3BTdG9yaWVzBHNsawN ob3VzZW1vdmVzdG8-?x=0&sec=topStories&pos=3&asset=&ccode=)