1099 Reporting

The recent expansion of the 1099 reporting rules are officially repealed.  President Obama has signed the legislation, which scraps the requirement that business issue 1099-MISC forms when paying $600 or more to corporations or for goods.  Also gone is the rule making owners of rental properties file 1099s on payments of $600 or more for goods & services.  Business, landlords and lobbying firms complained that the increased reporting was a hassle, and lawmakers finally agreed.

PostHeaderIcon It’s Not What You Earn, But What You Keep, After Taxes.™

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