Just wondering about 1099's

[Smokes]

With a large part of the health care bill kicking in tomorrow, one of the sections of it requires that anyone paid $600 or more in a year is to receive a 1099 with a copy sent to the IRS. Will I have to get Tax Payer IDs from all my providers? (Asked tongue in cheek)

[dirty dog]

Originally Posted by Smokes

With a large part of the health care bill kicking in tomorrow, one of the sections of it requires that anyone paid $600 or more in a year is to receive a 1099 with a copy sent to the IRS. Will I have to get Tax Payer IDs from all my providers? (Asked tongue in cheek)

I dont know the answer but I would love to have a video of you calling the IRS and asking one of their reps that question LOL.

[Random8585]

Originally Posted by Smokes

With a large part of the health care bill kicking in tomorrow, one of the sections of it requires that anyone paid $600 or more in a year is to receive a 1099 with a copy sent to the IRS. Will I have to get Tax Payer IDs from all my providers? (Asked tongue in cheek)

Smokes that is nothing new it has been a requirement for years

[guest030715-233d]

As Random said, 1099s have been required for quite some time for vendors and self-employed people who provide services. The new health care bill adds the 1099 requirement for the purchase of *goods* (a huge increase in the burden and cost of doing business, btw). Anyway, you should have been "1099ing" your favorite providers all along!

[swarmyone]

Originally Posted by Viader

Anyway, you should have been "1099ing" your favorite providers all along!

Could we just "69" 15.93 times and call it even?