IRS committee: Expanded 1099s will increase paperwork, costs

10/21/2010 | WebCPA

A report by an Internal Revenue Service advisory committee calls for changes in the agency's reporting rules, including the provision in the health care reform law that expands 1099 information reporting for business, which the report says will exponentially expand the number of returns filed and increase costs. The report also recommends making health care reporting on Form W-2 optional for next year or waiving penalties for failing to comply.

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