U.S. Congress - H.R.5141 Small Business Paperwork Mandate Elimination Act
H.R.5141 - Small Business Paperwork Mandate Elimination Act
To repeal the expansion of information reporting requirements for payments of $600 or more to corporations, and for other purposes. view all titles (3)
All Bill Titles
- Short: Small Business Paperwork Mandate Elimination Act as introduced.
- Official: To repeal the expansion of information reporting requirements for payments of $600 or more to corporations, and for other purposes. as introduced.
- Official: Small Business Paperwork Mandate Elimination Act as introduced.
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Official Summary
4/26/2010--Introduced.Small Business Paperwork Mandate Elimination Act - Amends the Internal Revenue Code to repeal a provision (added by the Patient Protection and Affordable Care Act) that extends to corporations that are not tax-exempt the requirement to report payments of $600 or more.Recent News Coverage
Small Business Tax Relief Act Fails to Pass in House
...congressman, Dan Lungren of California, whose original bill was called the Small Business Paperwork Mandate Elimination Act (H.R.5141. He complained that Democrats had attached his bill to the Small Business Tax Relief Act before bringing it to the floo
$600 Sale? Get Ready for Tax Form
Passage by Congress of the national health care legislation has had an unintended consequence to the nation’s coin collectors, vest-pocket dealers who buy and sell coins, and larger dealers who are frequent buyers of coins that collectors periodically liquidate as they trade up their collections for better coins, or simply sell to take a small profit or loss. What has happened is that effective Jan. 1, 2012, the whole system of giving and receiving Internal Revenue Service 1099 forms will be turned on its head and all persons (including corporations) who are in business will now have to give 1099 tax reporting forms for coins and other goods that they sell as well as buy.
Recent Blog Coverage
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IRS Buying/Selling - Coin Community Forum
H.R. 5141, aimed at repealing this provision, is currently oozing its' way through Congress; no idea what sort of support it has. It had 80 co-sponsors in the last Congress but the new year brings a new group. ...
IRS Buying/Selling - Coin Community Forum
H.R. 5141, aimed at repealing this provision, is currently oozing its' way through Congress; no idea what sort of support it has. It had 80 co-sponsors in the last Congress but the new year brings a new group. ...
Secret Gold Tax Provision Hidden In ObamaCare
Congressman Dan Lungren of California's 3rd district has authored a bill Small Business Paperwork Mandate Elimination Act (HR 5141) to try to get this intrusive provision repealed. This will become a paperwork nightmare nightmare for ...
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