University Extension Offers Free Tax Preparation

University of Missouri Extension will provide tax-preparation and e-filing
assistance January 28 through March 4.
"If you are low- to moderate-income and in need of help with filing your
taxes, we will help you at no cost to you," said Dr. Rebecca J. Travnichek,
MU Extension family financial education specialist. "Tax returns can also be
prepared for high school and college students; as well as individuals and
families who do not own a business."
Dr. Travnichek is IRS-trained and certified and will be preparing tax forms
and providing e-filing for returns.
Individuals can begin making appointments immediately at a convenient
location near them. To make an appointment, call the MU Extension office
nearest you or call 816-324-3147. Individuals who leave a message after
hours will receive a return phone call.
Individuals should bring any W-2s, 1098 and 1099 forms. Birthdates and
Social Security cards for everyone who will be claimed on the tax return are
also necessary. "It's a good idea to bring anything you receive in the mail
that indicates it is tax related; as well as a copy of your last years' tax
return," Travnichek said.

Graves Focuses on 1099 Repeal

House Small Business Committee Chairman Sam Graves today led the Committee’s first hearing to examine the health care law’s contentious 1099 reporting mandate. The hearing, titled Buried in Paperwork: A 1099 Update, featured testimony from Representative Daniel Lungren (R-CA) and four small business owners from North Carolina, Colorado, Maryland and Kentucky.

“This new 1099 requirement will cause an avalanche of additional 1099 forms to be filed and affect over 36 million entities,” said Graves. “At a time when we should be making it easier to create jobs, promote growth and invest in our economy, small firms don’t need yet another costly and burdensome mandate.”

The 1099 reporting mandate, which requires business owners to file a 1099 form for virtually every non-credit card purchase of goods or services of $600 or more per year, is housed within Section 9006 of the health care law.

“We are depending on small firms to reinvigorate our economy,” said Graves. “I want to let them focus on growing their businesses instead of filling out more paperwork for bureaucrats.”

The small business owners who testified at the hearing each expressed severe concerns about the problems their businesses would encounter due to the 1099 reporting mandate, and strongly urged its repeal. Mr. John “Mark” Eagleton, owner of The Egg & I restaurant in Colorado, delivered stirring testimony that illustrated exactly how frightening new federal regulations like the 1099 mandate can be for small business owners, particularly in tough economic times.

“We’ve invested everything we have in this business,” said Mr. Eagleton. “Any variable can tip the balance from my restaurant being a going concern to another failed business. If sales fall or costs rise and I cannot cover the increased expenses, my business will close very quickly. My family and I will lose our life savings and 22 other employees will lose their jobs and their livelihood.”

A bill has been introduced to repeal the mandate. H.R. 4 has over 270 bi-partisan co-sponsors, including Graves.