Terry Prescott Blog

Approved

1099
Posted by Terry Prescott on April 18, 2011 in  Landlords and Small Businesses
Landlords and Small Businesses  No Longer Subject to Expanded Reporting Requirements for 1099s Congress approved legislation to repeal a provision that as of Jan. 1, 2011, required landlords to file a 1099 form with the Internal Revenue Service reporting payments of $600 or more to another service provider in a year. This requirement would've applied to all businesses in 2012, which would have also included payments made for goods and to corporations. President Obama is expected to sign the bill, as he indic... read more
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