The new national Health Care Law includes a dramatic change in the IRS Form 1099 reporting requirements, effective January 1, 2012.
Prior to the change, businesses are required to file a Form 1099 for payments, made to independent (unincorporated) contractors, of $600.00 or more during a calendar year for services rendered. In order to fulfill the reporting requirement, the recipient must provide a completed Form W9, which includes the recipient’s name, address, and taxpayer ID number (TIN).
Effective January 1, 2012 payments (of $600.00 or more in a year) made for merchandise and to corporations will also be included. Whether the business purpose purchase is for an automobile, gasoline totaling more than $600.00 from the same oil company, plumbing, or business meals bought from the same restaurant (i.e. Tony Roma’s or McDonalds) during the year, they all will have to be reported on a Form 1099.
Obtaining the recipients’ W9 information might become a lot more complicated than currently. Since the rate of sales tax varies between states, and cities, determining the actual amount of sales will become considerably more difficult. Form 1099 recipients will feel compelled to summarize the totals of all 1099s received to verify accuracy.
The cost of the substantial increase in volume and complexity of reporting on Form 1099 could more than offset any additional revenue. While the cost of compliance will be excessive for business in general, it will particularly be quite oppressive on small business.
For the foregoing reasons, the United Chambers of Commerce of the San Fernando Valley strongly calls for the complete repeal of the new Form 1099 filing requirements as stated in the Health Care legislation.
Sincerely, The United Chambers of Commerce of the San Fernando Valley
“Pride of Sun Valley - Ranchera Music & Dinner Night” Featuring international recording artist Ron Y Tequila Sunday, June 6, 2010 6pm to 9pm At Rocky’s IV 12657 Osbourne Street, Pacoima, CA $25.00 ticket Includes: Fine entertainment and a delicious authentic Mexican dinner Raffle and Prizes!!!!! For more information, contact Maritza Baca @ (805) 210-9660
First Annual “Pride Of Sun Valley” Student-Faculty Basketball Game Wednesday may 26, 2010 6pm - 8pm, Outdoor Basketball Courts $6.00 tickets Please join us before the game… 4pm, Pride of Sun Valley BBQ! Pride platters include hamburger, chips and soda for $5.00 Halftime entertainment, food & fun!! Don’t forget to purchase your wildcats pride & power t-shirts before the game for $15.00 *please contact Maritza Baca @ 805-210-9660 for more information*
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“Pride of Sun Valley - Ranchera Music & Dinner Night” Featuring international recording artist Ron Y Tequila Sunday, June 6, 2010 6pm to 9pm At Rocky’s IV 12657 Osbourne Street, Pacoima, CA $25.00 ticket Includes: Fine entertainment and a delicious authentic Mexican dinner Raffle and Prizes!!!!! For more information, contact Maritza Baca @ (805) 210-9660
The Sun Valley Area Chamber of Commerce May Mixer May 20, 2010 from 5:30 to 7:30 pm at John Wells Golf Center (11501 Strathern — No. Hollywood, CA 91605)Free Range Balls so Don’t Forget Your Clubs! Hosted By LA By-Products Information (818) 767-1954
GENERAL ASSEMBLY MEETING LUNCHEON TOPIC:HEALTHCARE REFORM
GUEST SPEAKER: JIM LOTT EXECUTIVE VICE PRESIDENT OF THE HOSPITAL ASSOCIATION OF SOUTHERN CALIFORNIA
A VERY SPECIAL THANK YOU TO OUR EVENT SPONSOR: WESTERN COMMERCIAL BANK (THE ART OF BUSINESS BANKING)
ON WEDNESDAY MAY 12, 2010 COME LEARN MORE ABOUT THIS IMPORTANT TOPIC THAT EVERYONE IS CONCERNED ABOUT. THIS IS GOING TO AFFECT ALL OF US IN ONE WAY OR ANOTHER SO COME HEAR WHAT THE REAL STORY IS.
KNOWLEDGE IS POWER... PORTER VALLEY COUNTRY CLUB 19216 SINGING HILLS DRIVE NORTHRIDGE, CA 91326
11:30 AM - 1:30 PM
$ 25.00 PER PERSON
WE KNOW HOW BUSY EVERYONE IS THESE DAYS, THIS WILL BE A TWO LUNCH HOUR YOU WILL BE GLAD YOU TOOK.
Dear Family and Friends, Frank Miceli and Carla Miceli Craft are both cancer survivors. Carla and I both learned of our cancers this past year. I was diagnosed with Melanoma and Carla, my sister, was diagnosed with breast cancer. We both have had major surgeries for our cancers. And, today, we are both proud to call ourselves "cancer survivors". On May 22nd & 23rd, Carla and I will be joining the fight by participating in the American Cancer Society Relay For Life. This is a 24 hour walk-o-thon (we're getting too old to run the event) that will be taking place at our alma mater, Walter Reed Middle School, in Studio City. Please join us in this event by sponsoring "Team Miceli". There are a few ways you can do this: Go to www.relayforlife.org/studiocitynohoca and make a donation in the name of "Team Miceli"; Or, you may make a donation by purchasing a "Team Miceli" t-shirt, long sleeve T, sweatshirt, hoodie or polo. If you'd like, you may even stop by Miceli's and make the donation to the American Cancer Society in person. Order forms, and relay information, are on the attachment. Miceli's is also a food sponsor for this event. So, please come on out and cheer us on. Thank you for your support, Frank and Carla
AB 1998 is Assembly member Julia Brownley’s bill to ban paper and plastic bags at large grocery stores and pharmacies, and at convenience stores. It would also dismantle the existing plastic bag and wrap recycling infrastructure required at all large grocery stores and pharmacies.
I have attached for your reference opposition letters from the American Chemistry Council and the Hispanic Chamber of Commerce of Silicon Valley. With an expected May 5th vote in the Assembly Appropriations Committee, we would appreciate the chamber of commerce’s consideration in opposing this bill, especially because the chair, Assembly member Fuentes, represents your city.
Thank you, Ryan Kenny Manager, State Affairs American Chemistry Council
AB 1998 Hispanic Chamber of Commerce of Silicon Valley
Leaders Forum with Assembly Speaker John Perez Thurs., July 8, noon-1:30 p.m. The Beverly Garland Holiday Inn 4222 Vineland Ave., North Hollywood RSVP to monique@vica.com or CLICK HERE to register online
Click here for our Valley Business Calendar, which includes VICA Policy Committee information
