By Jay Heflin; The Hill Sen. Olympia Snowe (R-Maine), the Small Business Committee's ranking member, on Wednesday expressed outrage over the Small Business Administration (SBA) failing to submit comments to the Treasury Department on the new rule beginning in 2012 that requires businesses and organizations submit a form 1099 to the Internal Revenue Service (IRS) for purchases over… Read more »

By Jay Heflin; The Hill House Small Business Committee ranking member Sam Graves (R-Mo.) on Tuesday sent a follow-up letter to Internal Revenue Service (IRS) Commissioner Doug Shulman asking how he plans to implement the 1099 reporting rule included in the new healthcare law that requires businesses and organizations to report all purchases above $600 to the IRS.  Graves sent a… Read more »

By Sarah Needleman; Wall Street Journal Several provisions of the health-care overhaul that go into effect on Thursday will expand the amount of coverage that many small-business owners provide their employees. But the changes are also expected to increase insurance premiums. The changes include restrictions on annual limits; new appeals processes; the extension of dependent coverage… Read more »

By David Lerman and Liz Smith; Bloomberg BusinessWeek Sales are off by 20 percent this year at Image Computer, which repairs printers in suburban Detroit. So President Steve Olis is worried about whether he can continue paying the $71,000 a year it costs him to provide health insurance for his employees. The Obama Administration's answer for Olis and other small-business owners: a… Read more »

By Jay Heflin; The Hill National Taxpayer Advocate Pam Olson on Wednesday raised concern in a report to Congress about requiring businesses to document most of its purchases to the IRS. To improve tax compliance, the recently enacted health reform bill mandates purchases of $600 or more by businesses, tax-exempt organizations, or federal, state and local governments be submitted to… Read more »

By Ricardo Alonso-Zaldivar; Associated Press Zach Hoffman was confident his small business would qualify for a new tax cut in President Barack Obama's health care overhaul law. But when he ran the numbers, Hoffman discovered that his office furniture company wouldn't get any assistance with the $79,200 it pays annually in premiums for its 24 employees. "It leaves you with this feeling… Read more »

By Ricardo Alonso-Zaldivar; Associated Press Attorneys general and governors for 20 states won't be alone in their legal challenge to President Barack Obama's health care overhaul. The nation's most influential small business lobby is going to court with them. The National Federation of Independent Business will join the argument that Americans cannot be required under the… Read more »

By David Hogberg; Investor's Business Daily A little-noticed provision in the new health care law may not only dramatically increase paperwork for small businesses, but also put them at a disadvantage against their larger competitors. At issue is the law's Section 9006, which is supposed to generate tax revenues by expanding the reporting requirements for 1099 tax forms. Under… Read more »

By Diana Furchtgott-Roth; RealClearMarkets Low-skilled workers have some of the highest unemployment rates in America. Adults without high school diplomas face an unemployment rate of 14.5%, almost three times as high as rates for college graduates, and well above the national average of 9.7%. The unemployment rate for teens, another low-skill group, is 26%. Reasonable people likely… Read more »

By Neil deMause; CNN Money An all-but-overlooked provision of the health reform law is threatening to swamp U.S. businesses with a flood of new tax paperwork. Section 9006 of the health care bill -- just a few lines buried in the 2,409-page document -- mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or… Read more »