1099 Reporting Requirements Changing

July 8, 2010

Change takes effect as of 2012

Tax record keeping requirements and costs could significantly increase as a result of a little known health care reform law. The IRS' national taxpayer advocate released a notice July 7th "As of 2012, self-employed workers and small businesses, charities and government agencies will be required to issue 1099's to every vendor from which they purchase more than $600 in good during the year."

Other articles of interest in the July 8, 2010 NAHU Newswire include:

• Obama Appoints Berwick To Head CMS, Drawing Bipartisan Criticism.
• IRS Not Structured To Handle Health Reform Responsibilities, Ombudsman Says

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