Billions of New Tax Forms Starting 2012: 40 Million Businesses Must Send IRS a Form 1099 to Every Party They Pay $600+ a Year

CNN Money:  “The new regulations, which kick in at the start of 2012, require any taxpayer with business income to issue 1099 forms to all vendors from whom they purchased more than $600 of goods and services that year. That promises to launch a fusillade of new paperwork: An estimated 40 million taxpayers will be subject to the requirement, including 26 million who run sole proprietorships, according to a report released this week by [IRS] National Taxpayer Advocate Nina Olson.”  The new 1099 requirement was contained in the 2,200 plus pages of the Obamacare law.

Lindsay Lohan Sues E-Trade for $100 Million Because Ad Used the Word Lindsay

Can you say bad publicity is better than no publicity?  Former actress and paparazzi favorite party-girl Lindsay Lohan filed a lawsuit that should be a lot of fun to follow.  She sued E-Trade over a commercial in which a baby had the audacity to say “Lindsay” without LiLo’s written permission.  Everybody knows that when anybody says “Lindsay” they are referring to the one, the only Lindsay Lohan who must be properly compensated before her name can be used in vain in any commercial way.

See “Lindsay Lohan wants $100M over E-Trade ad” and “Lindsay Lohan sues over ;milkaholic’ E*Trade ad.”  Here’s the complaint.

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