Home Depot Horror Story

[joanmcq]

So you don't know who you pay more than $600 to?

[Black Bart]

So you don't know who you pay more than $600 to?

Not yet, but I will before January 31, 2011.

And by January 31, 2013 I'll go (peaceably) and know how they're paid (cash/check/debit-credit card).

I'm just sayin' I don't believe small business should have to. I don't think IRS will cross-check all those 1099s against anything for the great majority of filers, but rather will just use the reporting requirement to nab cash businesses that don't file tax returns at all. How much wasted time and money it costs the average business who does turn everything in and are dragged along for the ride is probably of small concern to them.

P.S. Sorry, Joan -- I know that came across as kind of smart-alecky, but I just don't think we should willingly pick up and carry every millstone they see fit to tie around our necks (and yes, I'm writin' my congressman -- for all the good it'll do).

[joanmcq]

The CP2000 program already cross-checks every single W-2 against the returns. and the new requirement is to catch all those non-filers ( we bear the burden of higher taxes because they don't pay) and underreporters (we bear the burden of higher taxes because they don't pay). I'm sure that when the W-2 was invented there was a great hue & cry about how odious that reporting requirement was.

I know who I pay more than $600 to...because it really isn't too many people, when you don't count credit cards. In fact, I can think of only one, a fairly large & expensive ad I run. All my big expenses are on credit. When you do a lot of audits, you find out keeping credit card statements is a lot easier for proof of payment than getting copies of cancelled checks.

[Black Bart]

Our government "partners"

The CP2000 program already cross-checks every single W-2 against the returns. and the new requirement is to catch all those non-filers ( we bear the burden of higher taxes because they don't pay) and underreporters (we bear the burden of higher taxes because they don't pay). I'm sure that when the W-2 was invented there was a great hue & cry about how odious that reporting requirement was..

Yeah, I know they check all the W-2s, but I'm not so sure about 1099s 'cause I know of people who get them, don't file, and never hear from IRS.

We'd all like to see nonfilers/underreporters pay up, but I don't believe our taxes would be cut because congress would likely just spend the extra money on something else.

Re: "a great hue and cry" about W-2s -- don't know, probably was. I do remember when they started enforcing 1099 filing and business people here complained a lot.

I know who I pay more than $600 to...because it really isn't too many people, when you don't count credit cards. In fact, I can think of only one, a fairly large & expensive ad I run. All my big expenses are on credit. When you do a lot of audits, you find out keeping credit card statements is a lot easier for proof of payment than getting copies of cancelled checks.

I know we can do this stuff and it seems whiny to carry on so, but government is too intrustive into our lives now -- wanting to know about every little thing people do. It's a stretch but not entirely out of the question that next they'll want personal expense 1099s. They're already setting up to put all medical records on computer and I don't particularly feel it's any of the government's **** business to know what doctor I go to and what for. And every time they do demand something, we always reliably/compliantly say "Well, it's just a little more work/information and it's not really that much trouble...etc." Eventually the whole stick of bologna has disappeared a slice at a time.

[Davc]

Eventually the whole stick of bologna has disappeared a slice at a time.

Disagree. I believe the bologna is increasing exponentially.

You're probably one of those people that believe OB isn't going to leave us a pot to p*** in. That's demonstrably untrue in my area. So far, 2.25 million dollars of stimulus money has been allocated to building toilets.

[Black Bart]

Actually

Disagree. I believe the bologna is increasing exponentially.

You're probably one of those people that believe OB isn't going to leave us a pot to p*** in. That's demonstrably untrue in my area. So far, 2.25 million dollars of stimulus money has been allocated to building toilets.

I was talking about privacy rather than bologna or money, but I'm glad to hear that blue Oregon's economy is flush because red Arkansas' is in the toilet (that money must be flowin' uphill). And I admit I'm one of those people , but I gave up on the pot (now just hoping to keep a window).

Tell you what; this thread's getting tired and so am I, plus we're gettin' off-topic and close to politics which the mods don't like, so let's call it a draw. Take a parting shot if you like and we'll call it even. Enjoyed talkin' to you.