UNBELIEVEABLE: Costly IRS mandate slipped into health bill.

A few wording changes to the tax code’s section 6041 regarding 1099 reporting were slipped into the 2000-page health legislation. The changes will force millions of businesses to issue hundreds of millions, perhaps billions, of additional IRS Form 1099s every year. It appears to be a costly, anti-business nightmare.

Under current law, businesses are required to issue 1099s in a limited set of situations, such as when paying outside consultants. The health care bill includes a vast expansion in this information reporting requirement in an attempt to raise revenue for an increasingly rapacious Congress (emphasis added).

So, if as a retiree, I do a little outside consulting and pay my neighbor a few hundred bucks to upgrade my home computer network, I’ll have to send him - and the IRS - a Form 1099 at the end of the year?

15,000 new IRS agents, coming to a neighborhood near you.

Sheesh.