Okay, so I read the actual article now. Looks like neither side wants this thing, it's just being used as a tool by both dems & conserves to try push what each of them really wants.
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Businesses that repeatedly make small purchases from the same vendor would have to keep good records in case the total exceeded $600 in a year.
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This is stupid. Businesses already report their expenses.
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Companies would also have to get vendors' tax identification numbers to include in the filings.
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Why? Why should we do someone else's work for them? A standard receipt, with name, date, etc of vendor is plenty. If they want to track them down, then let them do it. And how the fuck do you accomplish this anyway? "Hey Amazon, what's your EIN?" Yeah right.
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"Tax paperwork and compliance are already major expenses for small businesses," a coalition of 80 business groups recently wrote lawmakers. "This new and expanded requirement means that almost every business-to-business transaction is potentially reportable to the IRS."
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I'm sure the IRS would argue that every transaction already is reportable. This does nothing that isn't already going on.
And here's the real deal:
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Republicans want to repeal the filing requirement and pay for it by changing other parts of the new health care law, a strategy that Democratic leaders won't support. Democrats want to repeal the filing requirement and pay for it by raising taxes on international corporations and limiting taxpayers' ability to use special trusts to avoid gifts taxes. Republicans won't support that.
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