Businesses, especially small businesses, may be able to sigh in relief soon. A law, proposed by the Bush administration, and tacked onto Obama's recent health care bill, that would require all businesses to fill out 1099 forms to report expenses paid to other businesses over $600 in any year, is in hearings for possible repeal. This law, pending activation in January of 2012, would increase the number of 1099 forms sent to the IRS ten fold and possibly put an undue strain on small businesses. Via tax-news.
Keep it up my friend, if you build it they will come.
ReplyDeleteMore forms? Just what small business's need! It's not already hard enough managing everything else...?
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I have a small business myself.
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