Infinite wisdom....or not!

I had a discussion with Tim this morning. I didn't understand, nor did I believe him when he stated: "In the new Health Care Bill, there is a portion stating that if I as a business spend $600 or more annually with another business, I am now obliged to send a 1099 to that business for the amount of the purchase".

Hello! Does that make any sense?

Not to me it doesn't. Nor I imagine does it make sense to any of you.

So, I just talked with my CPA......this is the response in a nutshell.

i.e. We have our truck repaired at the Kenworth dealer in Richfield.
The bill is $845.00. We must send the Kenworth dealer a 1099, keep a copy of the 1099, and make sure our CPA has a copy of the 1099......... along with any other businesses that we spend that $600 limit and above also get a 1099. Then a cover letter stating
a list of other businesses that we have spent the $600 or more with, (in Triplicate) duplicates
of all the 1099's and a cover sheet (a 1096) that summarizes the 1099's.

Here is another cute situation. Tim spent over $40,000 for fuel in 2010 for the Kenworth.
How do we send 1099's to those fuel stops or corporations?

Are you serious President Obama?

This is a joke right....Congress, .... Senate......????

Anyone?????

Gheez!