As the markets and businesses delve into the recent major pieces of legislation, they find the bills contained onerous provisions that mandate non-economic activity and increases in costs. As an example in section 9006 of the health care law, there is a requirement that vendors and small businesses are required to file 1099 forms for any goods purchases that total over $600. This would force all businesses, including small businesses, to file tax forms listing the amount of their annual transactions with vendors like their paper supplier, bottled water distributor and tax accountant.

The WSJ reports, “The reporting rules have … …READ MORE