The Small Business Jobs And Credit Act Will Kill American Jobs

FOR IMMEDIATE RELEASE
Fort Walton Beach, Florida, United States of America (Free-Press-Release.com) September 29, 2010 -- The Small Business Jobs and Credit Act signed into law by the President on September 27 2010, imposes new fines to an estimated 40 million small-business owners. When Obama Care was passed, it contained a provision mandating that all small-business owners file a 1099 for any entity from whom they purchase goods or services in excess of $600 per calendar year. This meant that that the average of 10 forms a year filed will increase to an estimated 200.

Now you get the The Small Business Jobs and Credit Act. This bill increases the penalty of not filing or filing incorrectly a 1099 for each vendor up to $250 per occurrence and pushed the aggregate penalty from $250,000 to $1,500,000.

If every small-business in America missed one vendor the revenue generated to the federal government would exceed $10 billion.

Read the full article here: http://www.boogai.net/economics/the-small-business-jobs-and-credit-act-will-kill-american-jobs/

More information can be found online at http://www.boogai.net

1099     small business     Small Business Jobs Act 2010