Dan Danner of The Wall Street Journal takes on the 1099 mandate in a recent opinion piece: Adding insult to injury, the law also requires all businesses to issue IRS 1099 forms to document every business-to-business transaction of $600 or more. To someone who’s never run a business, this may […]
IRS
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The new 1099 mandate I previously discussed here is beginning to attract more attention. Currently, businesses submit 1099’s for every consultant or contractor they hire. Under the new rules, businesses must submit 1099s for every other business with whom they do business. This mandate will inundate small businesses with the […]
Another “benefit” of the new health care bill is yet another IRS mandate. This one is a doozy. When a business pays an outside consultant or contractor more than $600 in a given year, that business is required to issue a 1099 form reporting the payment to the consultant or […]