SBE Council Endorses Bill to Stop Small Biz Paperwork Nightmare
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Starting in 2012, Section 9006 of the "Patient Protection and Affordable Health Care Act" mandates that small business owners file a 1099-MISC to the Internal Revenue Service (IRS) for every business-to-business transaction totaling $600 or more in a tax year. Some small business owners are familiar with form 1099 in reporting payments made to independent contractors, but this type of reporting is dramatically expanded under the new health care law.
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- Barack Obama
- Dan Lungren
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