Quote:
Originally Posted by DirtyDanza
all you fucks that voted for obama thank him...
he spent so much money now he has to steal it back...
correct me if im wrong but isint that the joy of the internet is .. income that you get that has no trail to it?
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Obama? Not for this one ... it was President
Bush who signed the Housing and Economic Recovery Act of 2008 that imposes these new requirements into law.
However the health care reform package, which was signed by President Obama, imposes
other new reporting requirements for all businesses ...
In 2011, as of now unless it's changed soon, businesses will have to generate a 1099 for
every business / person they purchased $600+, cumulatively in the same year, of goods / services from...
For example, if a business bought $600+ of groceries (ie. to stock their breakroom), over the course of the year, they would have to 1099 the supermarket!
Ron