Report: Why We Need the 1099 Deluge
Small businesses are up in arms about a provision in the health reform law that will require them to submit a 1099 form to every vendor that they buy goods from, if their total annual purchase from that vendor comes to $600 or more (as I noted here). They’re worried that compliance will mean a heavy addition to their already crushing load of paperwork.
Republicans in Congress agree, and have proposed repealing the provision. But any such move would only perpetuate massive tax evasion by vendors, according to a report released today by the Center on Budget and Policy Priorities. more





