1099 rule is latest in IRS effort to root out unreported income

05/24/2010 | Natural News · CNNMoney

A small item in the health care reform bill that requires businesses to file 1099 forms for every business from which they purchase $600 worth of goods or services is sparking a big outrage among small-business owners. But it's just one part of a growing campaign by the Internal Revenue Service to find unreported income, primarily using 1099 reports. The first regulation was buried in the bill that created the homebuyers' tax credit that was signed into law in July 2008 by former President George W. Bush.

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Natural News · CNNMoney

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