May 6, 2010 - Phil Hodgen

It’s worse than it appears (tax paperwork, that is)

From the TaxProf Blog, word of stuff hidden in President Obama’s health care legislation:  wall-to-wall tracking and reporting of expenditures above $600 via Form 1099?  Really?  Are we faced with a blizzard of paperwork?  Do we really have to tell the IRS every time we spend more than $600?


For a professional (i.e., non-CNN) analysis, see Taxgirl’s post on the topic.

Voluntary Disclosure