Farm Bureau doesn't know what the *$*)@ its talking about.
The new law is any and all payments over $600 for any good or service to any kind of entity - individual or corporation.
You buy a used pickup for the farm - you have to send a 1099 to the dealership. You buy tires for that truck its another 1099 to the tireshop. You have a $600+ mechanic bill on that truck (or accumulated repairs of $600) you have to send a 1099 to the mechnic. You buy $600 of fuel in the course of the year from one gas station you have to send a 1099 to that station (good luck getting a FIN from Phillips 66). You buy grain for your livestock - a 1099 to the seller. You buy cattle or hogs from the sale barn - you have to issue a 1099 to the salebarn. Buy a new computer for the farm you have to issue a 1099 to Dell or Best Buy.
If they think the "average" farm only has 16 venders that were paid $600 or more I'd like to know what kind of "farms" those are.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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