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Tax Sep 2010- "New 1099 Requirement Presents Potential Challenges for Small Businesses"

Tax Sep 2010- "New 1099 Requirement Presents Potential Challenges for Small Businesses"

Tax Sep 2010- "New 1099 Requirement Presents Potential Challenges for Small Businesses"

Excerpt


New 1099 Requirement Presents Potential Challenges for Small Businesses



While the new health care bill affects the way small businesses maintain and administer medical plans, one small provision in the bill has nearly been overlooked in the hubbub of activity. Beginning in 2012, companies must report to the IRS payments of more than $600 a year to any vendor, including individuals and corporations.


 



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