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Maybe good for the SB's out there..... or gold buyers
House votes to end unpopular new business tax rule [usatoday.com]
WASHINGTON (AP) — An unpopular tax filing requirement for businesses tucked into the new health care law would be repealed under a bill overwhelmingly passed by the House Thursday.
The provision 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.
WASHINGTON (AP) — An unpopular tax filing requirement for businesses tucked into the new health care law would be repealed under a bill overwhelmingly passed by the House Thursday.
The provision 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.
