Saturday, October 10, 2015
1012 C Street  •  Floresville, TX 78114  •  Phone: 830-216-4519  •  Fax: 830-393-3219  • 

WCN Site Search

Lost & Found

Missing: Male Chihuahua, black/gray/white, named Spy, possibly missing from F.M. 775 around Vintage Oaks Subdivision and Woodlands area, Sat., Sept. 26 about 10 p.m. 830-391-5055. 

VideoLOST KITTY: Nannette Kilbey-Smith's family's 5-month-old little kitten, Jack. Disappeared last night from house on Oak Hill Road. No collar. Text/call 210-823-4518
Lost: Men's wallet, Sept. 21 at Wal-Mart fuel center in Floresville, left on side of truck, medical IDs needed. If found call 210-827-9753, no questions asked.
More Lost & Found ads ›

Help Wanted

Be skeptical of ads that say you can make lots of money working from the comfort of your home. If this were true, wouldn’t we all be working at home?
Henry Howard Services is accepting applications for QUALIFIED and EXPERIENCED vacuum, end dump and winch truck drivers. Applicants must have a class A CDL with tanker endorsement. Hazmat endorsement preferred but not required. Call 830-569-8144 for more information or pick up an application at 980 Humble Camp Rd, Pleasanton, Texas 78064. 
More Help Wanted ads ›

Featured Videos

Video Vault ›

National News

NNA welcomes rollback of 1099 tax reporting law

E-Mail this Story to a Friend
Print this Story

The author of this entry is responsible for this content, which is not edited by the Wilson County News or
April 5, 2011 | 1,917 views | 1 comment

National Newspaper Association President Elizabeth K. Parker welcomed today’s 87-12 Senate vote to restore 1099 tax form reporting to 2010 levels and eliminate a threatening new burden on small businesses. Parker is co-publisher of Recorder Community Newspapers in Stirling, NJ.

The Senate adopted a bi-partisan measure that would jettison new rules for much wider reporting of businesses’ payments for goods and services. Without today’s repeal, businesses would have been required to report to the Internal Revenue Service each year their payments for virtually all products and services, including purchases of office supplies, advertising, rent and other common payments--even made to corporations that already report those revenues as income--if totals exceeded an annual $600 threshold.

The impending implementation of 1099 requirements, set to go into effect on Dec. 31, 2011, had already begun to affect small newspapers as their vendors were requiring W-9 statements with taxpayer IDs to set up massive compliance systems.

“This 1099 expansion was intended to capture scofflaws who don’t pay their taxes, but instead it simply saddled small businesses with a lot of new accounting expense,” Parker said. “According to a study by the Small Business Administration, the cost of complying with the tax code is already 66 percent higher for small businesses than for large businesses. This 1099 burden, just as many community newspapers are beginning to find economic recovery, would have been a severe setback.”

The Senate’s vote today overcame a proposed amendment by Rep. Robert Menendez, D-NJ, that would have modified but not rolled back the new 1099 rules.

Parker thanked members of NNA’s Congressional Action Team for their work with congressional delegations in helping them understand the impact of the new 1099 reporting.

“Congress passed this provision during the health care reform bill with the belief it would bring in $17 billion in tax payments from scofflaws,” Parker said. “But it became quickly clear that the expense of compliance, both by businesses and by the IRS, could outweigh the benefits. Plus, it simply added to the headaches of businesses that fairly pay their taxes. Congress was wise to rethink its action and let us get back to focusing on how to improve our local economies and run our newspapers.”
‹ Previous Blog Entry

Your Opinions and Comments

Elaine K.  
April 5, 2011 6:36pm
Just posted.

Share your comment or opinion on this story!

You must be logged in to post a comment.

Not a subscriber?
Subscriber, but no password?
Forgot password?

National News Archives

auto chooserAllstate & McBride RealtyHeavenly Touch homeTriple R DC ExpertsVoncille Bielefeld homeDrama Kids

  Copyright © 2007-2015 Wilson County News. All rights reserved. Web development by Drewa Designs.