Costly IRS Mandate Slipped into Health Bill | Cato @ Liberty

Hope and Change, Hope and Change!   I guess Nancy was right, we really did have to pass the bill before we found out what was in it.

 

Costly IRS Mandate Slipped into Health Bill | Cato @ Liberty

Posted by Chris Edwards

Most people know about the individual mandate in the new health care bill, but the bill contained another mandate that could be far more costly.

A few wording changes to the tax code’s section 6041 regarding 1099 reporting were slipped into the 2000-page health legislation. The changes will force millions of businesses to issue hundreds of millions, perhaps billions, of additional IRS Form 1099s every year. It appears to be a costly, anti-business nightmare.