Another unintended consequence of the new health care law? Paperwork. Lots of more paperwork:
To help pay for this massive new bill, the administration is trying to increase the amount of money collected through taxes. And that means you and I better get ready to start filling out lots of new paperwork:
“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…”
So health care reform turns out to mean more regulations and more paperwork for the little guy. Another unintended consequence.
