Neil deMause: The Website

Programming note: I’ll be on WTOP radio in Washington, D.C. this afternoon at 2:20 pm Eastern time, to talk about the Great 1099 Tax Form Mess. Tune in via webstream here.

With the Great Blizzard of 1099s still looming (if 2012 counts as “looming”), there could be a white knight riding to the rescue … would you believe the IRS?

With a new mandate looming that will require business owners to file millions more tax forms, the Internal Revenue Service has begun the daunting process of figuring out how to turn the law’s sweeping demands into actual rules for taxpayers.

The new regulations, which kick in at the start of 2012, require any taxpayer with business income to issue 1099 forms to all vendors from whom they purchased more than $600 of goods and services that year. That promises to launch a fusillade of new paperwork: An estimated 40 million taxpayers will be subject to the requirement, including 26 million who run sole proprietorships, according to a report released this week by National Taxpayer Advocate Nina Olson… [read more]

Still more on those changes to 1099 tax form filings for small businesses and the self-employed:

The massive expansion of requirements for businesses to file 1099 tax forms that was hidden in the 2,409-page health reform bill took many by surprise when it came to light last month. But it’s just one piece of a years-long legislative stealth campaign to create ways for the federal government to track down unreported income.

The result: A blizzard of new tax forms that the Internal Revenue Service will begin rolling out next year… [read more]

Okay, maybe the crazy right-wingers who think the health care reform law will bring about the end of civilization have a case after all:

NEW YORK (CNNMoney.com) — 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 corporation from which they buy more than $600 in goods or services in a tax year… [read more]

If you’d like to hear me natter about the health care bill’s effect on small business, I’ll be on WOC-AM in Iowa at 8 am (Central time) tomorrow morning, available here streaming over the interwebs. I’ll also be be on KMED-AM 20 minutes later (6:20 am Pacific), but that doesn’t appear to be streamed, so you’ll either need to live in Medford, Oregon, or have a tin can with a really, really long string.

Now that Congress has pulled an all-nighter and finally passed a health care reform bill (or half of one, anyway), I did the same to provide a look at what the new law will mean to you — assuming you’re the owner of a small business, which might actually describe one or two of my readers here.

The sweeping health-care bill passed by the House of Representatives Sunday, and now headed for President Obama’s desk, promises a sea change in the way that small business owners purchase and provide health insurance for themselves and their employees.

But many of the provisions won’t kick in until 2014 — and the final rules could still be changed by amendments that will now be considered by the Senate… [read more]

I check in on the state of microlending projects in Haiti, and how they will fare in the post-earthquake economy:

As Haiti continues to dig out from the earthquake that leveled Port-au-Prince, local microlenders are gearing up to begin rebuilding the country’s shattered economy.

International aid groups have been “focusing on supplying food and shelter,” says Daniel Jean-Louis, a business professor at the State University of Haiti and Quisqueya University who also works as a consultant for local business groups in Port-au-Prince. “Nobody has talked yet about businesses resuming and people getting back to work.”… [read more]

It’s swine flu season, which means all thoughts turn to what to do when your job won’t let you call in sick:

As the H1N1 swine flu virus starts its second major sweep through the U.S., business owners are bracing for the impact of a worse-than-usual flu season on their workforces. That’s reviving debate on a contentious issue: What kind of sick leave should companies offer employees — and should it be mandated by law?

“On the one hand, you have all of our top officials saying, ‘Do the responsible thing. If you’re sick, stay home,’” says Debra Ness, president of the National Partnership for Women and Families, a Washington, D.C.-based advocacy group that is pushing for paid sick leave laws. “You have advice from the Centers for Disease Control on exactly how many days you should stay home, and how many days we need to keep kids at home. And at the same time, we have a country where almost half the workforce doesn’t have a single paid sick day.”… [read more]

Health Savings Accounts, the Bush-spawned health insurance plans that have been derided as a mere tax dodge for the rich, are either in danger of being phased out under health reform, or likely to carry on unimpeded. You make the call:

While Washington wrangles over health care, the nation’s last big reform innovation faces an uncertain future. Health Savings Accounts, the hybrid of flex spending accounts and IRAs that President Bush created in 2003, are an afterthought in the current proposals on Capitol Hill — with strenuous debate over whether their demise would be a disaster or a welcome end to a program that never lived up to its promise…. [read more]

The new law that President Obama is signing today doesn’t actually leave all small business owners out, but it does exclude some of them from its credit-card protections:

When the Senate passed its credit-card reform bill on Tuesday, Senator Christopher Dodd called it “a great day for consumers.” But what will it mean for small business owners who’ve been struggling with inflated rates and unexpected fees on their credit cards?

That depends on how your small business is incorporated, and what kind of card you have… [read more]