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Agricultural News


Health Care Reform Includes Paperwork Requirement

Thu, 12 Aug 2010 17:32:21 CDT

U.S. Representative Adrian Smith of Nebraska believes farmers face an administrative nightmare with President Obama's new health care law. Section 9006 of the law requires that all businesses file a 1099 with the Internal Revenue Service for every contractor from which they purchase six-hundred dollars or more in goods or services in a calendar year.


Smith further explained the situation by saying that when a farmer or rancher spends six-hundred dollars on feed corn, seeds, fertilizer, fuel, tractors or nearly every other expense - they will have to research and prepare a 1099 form for each and every purchase. He said this will prove to be an administrative nightmare for our nation's family farms.


In response - Representative Smith has cosponsored HR 5141 - the Small Business Paperwork Mandate Elimination Act - which will repeal this new requirement. According to Smith - our nation's farmers and ranchers already have enough headaches when it comes tax time. Congress shouldn't be making them worse to pay for a misguided health care bill.

 

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