Wednesday, November 3, 2010

THE IRS STILL WON'T ANSWER QUESTIONS ABOUT THE NEW 1099 RULES

The IRS remains unclear about 1099 reporting implementation. The Internal Revenue Service is still avoiding questions about how it will implement the controversial 1099 reporting rule, a provision of the health care reform law that requires a business to file a 1099 when a vendor is paid more than $600. IRS Commissioner Douglas Shulman has declined to provide information on the rule after requests for clarity, says Rep. Sam Graves, R-Mo. See the article and comments from The Hill.

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