The Small Business Jobs and Credit Act Will Generate Billions In Fines To 40 Million Small Businesses

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Hidden in the pages of the Small Business Jobs and Credit Act is a provision that increases fines up to $1,500,000 for not filing a 1099. This new fine is expected to generate $10 billion in fines to small-business owners in the first year alone. breaks another news story carried by media outlets around the world.

If every small-business in America missed just one 1099 it would generate an estimated $10 billion in revenue to the government every year

The Small Business Job and Credit Act will fine small-business owners billions for not filing a 1099. The Patient Protection and Affordable Care Act, known as ObamaCare, had a provision requiring businesses to file a 1099 for each entity that a business had $600 in transactions or more for a calendar year, reports, an online news agency.

The Small Business Job and Credit Act increases the fines for not filing a 1099 to $250, and raises the aggregate fine from $250,000 to $1,500,000.

Given that there are more than 40 million small businesses in America, this could generate $10 billion or more in fines to the small-business industry.

Mark Levin utilized Boogai's article in his nationwide syndicated radio show to inform and educate small-business owners about this new fine and regulation. is an online news agency that is quickly being recognized for breaking news stories of recently passed bills in Congress.

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Brian Ward
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