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    New Form 1099 requirement

    So what about if you paid more than $600 to Office Depot for office supplies? Does that mean you will have to issue a Form 1099 to Office Depot?

    And almost every contractor needs to issue a Form 1099 to Home Depot???

    Have I missed something?

    #2
    Originally posted by AccTaxMan View Post
    So what about if you paid more than $600 to Office Depot for office supplies? Does that mean you will have to issue a Form 1099 to Office Depot?

    And almost every contractor needs to issue a Form 1099 to Home Depot???

    Have I missed something?
    Yes, you missed the year. Assuming it is not repealed (which it will be), that portion of PL 111-148 becomes effective in 2012.

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      #3
      Originally posted by solomon View Post
      Yes, you missed the year. Assuming it is not repealed (which it will be), that portion of PL 111-148 becomes effective in 2012.
      And not if a credit card is used.

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        #4
        Originally posted by solomon View Post
        Yes, you missed the year. Assuming it is not repealed (which it will be), that portion of PL 111-148 becomes effective in 2012.
        If not repealed, this is going to save the Postal Service (which is in deep financial trouble as what I have heard of). Just imagine how much more business they are going to get with all these Form 1099s being sent around.

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          #5
          So, the part about sending a 1099 to corps? Is that 2012 also? Say, for contract services?

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            #6
            Originally posted by Burke View Post
            So, the part about sending a 1099 to corps? Is that 2012 also? Say, for contract services?
            Yes, and expanded to include goods/merchandise. The top of TTB 1-11 has a concise couple of paragraphs.

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