The provision of the reform of health care requires small businesses to file 1099 for goods that cost $ 0 or more with a supplier - the creation of a large amount of paperwork to the IRS and small businesses. Up to 40 million small businesses would have to file forms from 2012 and require the IRS to hire workers to handle the new load.
Although the repeal of the provision has the support of Democrats and Republicans, the Senate was short six votes to repeal it. Republicans believe that the funds generated by the setting to 1099 provision should be replaced to avoid adding to the deficit. However, Democrats plan to repeal did not provide other sources of income for the shortfall.
Senator Mike Johanns proposed using money unspent federal accounts reports Yahoo!. He said: "Billions of taxpayer dollars sit in unspent accounts and a very small percentage of those funds would give small businesses a much needed break for the next fiscal formalities tsunami"
Repeal the. provision will result in $ 19 billion less in taxes collected from small businesses and nonprofit organizations through 2020. Although the repeal was not adopted today, many lawmakers believe it will soon be repealed.
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