THE US GOVERMENT-THRU ITS POLITICANS HAS SCREWED OVER PEOPLE AGAIN

I have a small business and i mean small!!!.Have a merchant
processing acct with the same processor for 12 years with
no problems.
Today in the mail i received a letter from them--as i assume
many others did-from theirs-mine is PNC -(this is why i am posting this)--THAT ALL
people/business that process funds, effective this year will get a 1099 for the
amount of $$$ that you process-thru your machine.This 1099 will be sent by the processor to you--with a copy to the IRS.
If you dont comply--i am reading this as i type--the processor
has the right/duty to with hold 28% of the processed funds if you do not comply with updated info.

OK this can be construed as part of business--BUT GUESS HOW THIS BECAME LAW--In 2008--in a HOUSING REAL ESTATE BILL--
The BAS....S-ATTACHED A RIDER-to the bill-way down in the small print--adding this processing item in it and it became
law when the bill passed. HIDDEN IN A REAL ESTATE BILL-they
quietly put into law a bill that affects every business/person
in the country that has a credit card processing account.

As i said i havent digested it all and i dont know if the transactions have to be itemized etc-BUT they passed this thru the back door.Has anyone else who has processing received
a similar letter.MANY THANKS--
So back to my for sure