[FoRK] 1099 will end the world in 2012
jbone at place.org
Mon Jul 26 10:31:58 PDT 2010
Coupla bits for Aaron...
First, I think you're over-extrapolating from materially- / logistically-light knowledge-worker type businesses. I decided to get some data. I polled my folks, who notably had two very different businesses: my mom and dad (mostly my mom) owned and ran a tiny flower shop in a small town. My dad, as previously mentioned, was also a hospital administrator and administrator for a private medical group practice of six doctors.
For the flower shop, when asked they said they had "a dozen or so" vendors. Billing terms were ALWAYS net-x --- net 15, 30, etc.
For both hospitals and group practices, the situation was even more complex. For hospitals there are actually numerous intra- and extra-hospital corporate / billing entities --- i.e. vendors. Again, terms are ALWAYS net-x. Same for outside. For a modest hospital (10s of beds) in a rural setting, there were "a bunch of" distinct vendors. For the group practice, somewhat less but still "enough that giving them all 1099s would be a big pain in the ass, I guess."
Re: "If you actually have taxes owed, you need a tax accountant to fix that." ---- THAT myth again?
Re: the "EOTWAWKI" headline --- I was just passing that along.
Existential risk? Of course not. Unintended consequences? Of course, and massive. Absolutely retarded? Of course.
Short version: stupidity run amok. You can excuse it all you want, but it's simply unjustifiable....
BTW, there was a provision a while back that should've gone into effect in 2008 (subsequent to Congressional action in 2007) that would have classified (under the FTC) any health care provider who wasn't collecting the total due at the time of service, e.g. as a creditor / lender and subject to the related regulation, etc. Its implementation has now been delayed 6 or 7 times. Hopefully for obvious reasons...
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