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Saturday May 18, 2013
Today in 1917, the United States Congress ordains the Selective Draft Act, or Selective Service act of 1917 which demands individuals become soldiers to fight World War I.

To take from one, because it is thought his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers, have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, the guarantee to everyone the free exercise of his industry and the fruits acquired by it. — Thomas Jefferson


Topic: ‘Quickbooks’

1. Costly IRS Mandate Slipped into Health Bill

Cato-at-Liberty.org | Basically, businesses will have to issue 1099s whenever they do more than $600 of business with another entity in a year. For the $14 trillion U.S. economy, that’s a hell of a lot of 1099s. When a business buys a $1,000 used car, it will have to gather information on the seller and mail 1099s to the seller and the IRS. When a small shop owner pays her rent, she will have to send a 1099 to the landlord and IRS. Recipients of the vast flood of these forms will have to match them with existing accounting records. There will be huge numbers of errors and mismatches, which will probably generate many costly battles with the IRS.... - [More]

Posted: April 30, 2010 in Articles

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