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NASE Signs on to Coalition Letter Supporting Repeal of New Form 1099 Reporting Requirements

Friday, May 14, 2010

 

THE COALITION FOR FAIRNESS IN TAX COMPLIANCE        

 

 

May 13, 2010

The Honorable Dan Lungren

U.S. House of Representatives  

Washington, DC 20515        

 

Dear Congressman Lungren:  

 

On behalf of the Coalition for Fairness in Tax Compliance (CFTC), we are writing in support of H.R. 5141, the Small Business Paperwork Mandate Elimination Act. H.R. 5141 helps small businesses by repealing an expensive and burdensome new tax paperwork requirement included in the Patient Protection and Affordable Care Act. 

Tax paperwork and compliance are already major expenses for small businesses and the new reporting requirements included in the Patient Protection and Affordable Care Act will only increase these costs. The new filings substantially increase the current requirement by expanding both the types of businesses and transactions considered reportable.

This new and expanded requirement means that almost every business-to-business transaction is potentially reportable to the IRS. According to an SBA study, the cost of complying with the tax code is 66 percent higher for small business as compared to a large business. The new requirements will dramatically increase these costs, pulling capital out of the business that could be better used to reinvest in the business and create jobs.

The new reporting has nothing to do with health care, but is deemed as a way to raise revenue by closing the tax gap. Yet, little data exists to demonstrate that the newly collected information is a source of the tax gap and it is unclear whether and how the IRS can use the paperwork. Even worse, under this proposal, the burden of finding noncompliant taxpayers is placed on the compliant taxpayers required to file these new forms.

We appreciate your efforts to remove this new and onerous burden on small business and look forward to working with you to advance this legislation.

Sincerely,

National Federation of Independent Business

U.S. Chamber of Commerce Small Business Legislative Council

AMT – The Advanced Manufacturing Technology

The Alliance of Independent Store Owners and Professionals  

The Coalition for Fairness in Tax Compliance   

Agricultural Retailers Association

American Bakers Association

American Council of Engineering Companies

American Council of Independent Laboratories)

American Farm Bureau Federation

American Foundry Society

American Hotel & Lodging Association

American Institute of Architects

American Nursery & Landscape Association

American Road & Transportation Builders Association

American Society of Association Executives

American Society of Interior Designers

American Subcontractors Association

American Veterinary Medical Association

Associated Builders and Contractors

The Associated General Contractors of America

Automotive Recyclers Association

Commercial Photographers

International Door and Hardware Institute

Hearth, Patio & Barbecue Association

Independent Community Bankers of America

Independent Electrical Contractors

Independent Office Products & Furniture Dealers Association

International Franchise Association

International Housewares Association

International Sleep Products Association

Money Mailer Manufacturers' Agents Association for the Foodservice Industry Manufacturers' Agents

National Association Manufacturing Jewelers and Suppliers of America

National Association for the Self-Employed

National Association of Home Builders

National Association of Manufacturers

National Association of RV Parks & Campgrounds

National Association of Theatre Owners

National Association of Wholesaler-Distributors

National Automobile Dealers Association/American Truck Dealers

National Christmas Tree Association

National Club Association

National Community Pharmacists Association

National Electrical Manufacturers Representatives Association

National Home Furnishings Association

National Lumber and Building Material Dealers Association

National Restaurant Association

National Roofing Contractors Association

National Small Business Association  

Northeastern Retail Lumber Association

North American Die Casting Association NPES

The Association for Suppliers of Printing, Publishing and Converting Technologies

Outdoor Power Equipment Aftermarket Association

Outdoor Power Equipment Institute

Petroleum Marketers Association of America

Professional Golfers' Association of America

Professional Photographers of America Promotional Products Association

International S Corp Association

Saturation Mailers Coalition

Secondary Materials and Recycled Textiles Association

 Service Station Dealers of America and Allied Trades

Small Business Council of America

Small Business & Entrepreneurship Council

SMC Business Councils

Society of American Florists

Society of Sport & Event Photographers

Specialty Equipment Market Association

SPI: The Plastics Industry Trade Association

Stock Artists Alliance

Textile Care Allied Trades Association

Textile Rental Services Association of America

Tire Industry Association

Women Impacting Public Policy

Wood Machinery Manufacturers of America   

 

_________________________________________________________

The mission of the Coalition for Fairness in Tax Compliance (CFTC) (www.taxfairnesscompliance.org) is to fight for the rights of tax compliant small business owners by:  

• Supporting the accurate use and collection of information on the source, size, and scope of the problem of tax non-compliance that forms the foundation for policy decisions.  

• Supporting targeted, sensible, regulatory and legislative measures that will reduce tax noncompliance without generating undue burdens on the general small business community.  

• Encouraging tax compliance by developing tax simplification proposals for sections of the tax code that are confusing and complicated.  

• Opposing regulatory and legislative strategies proposed by lawmakers in an attempt to increase tax compliance that impose excessive and obtrusive burdens on honest small business owners.

 

The Coalition for Fairness in Tax Compliance  

1201 F Street NW * Suite 200 * Washington, DC 20004 * 202-554-9000 * Fax 202-554-0496