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Not trying to hijack the thread, but I've asked this question before, and could not get a "real" answer (as opposed to joke responses)..so here it goes in here:
How do e-processors get away with not having to file a 1099? I had been with only Lancelot Security until they went out of business last September. Every year they sent out a 1099 and so it was fairly simple to do self employment taxes (if you can call our tax system simple).
Now, I'm on my 3rd different processor (oh it's so much fun out there these days), and was really stunned when I was told ccbill, Ibill, etc have never sent out 1099s. How the heck do you figure out your taxes and what do you do if you get audited without the 1099s to support your estimates? (Probably showing my ignorance on self employment taxes here).
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