Hr 3962

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  • veritas
    Senior Member
    • Dec 2005
    • 3290

    #1

    Hr 3962

    Here's a little nugget in the Affordable Health Care Act.

    Sec. 553. Expansion of information reporting requirements. Under present law, a taxpayer is required to file an information return if the taxpayer makes aggregate payments of $600 or more to a recipient for services or determinable gains in the course of a trade or business during the calendar year. Notwithstanding this general requirement, taxpayers are not required to file information returns for payments to corporations. The bill would require taxpayers to file an information return for aggregate payments of $600 or more in a calendar year to a corporation. This proposal has been estimated to raise $17.1 billion over ten years
  • JG EA
    Senior Member
    • Jul 2005
    • 2176

    #2
    Thanks for this info. If this. I have been having clients get W-9's for all in anticipation of this.
    JG

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    • veritas
      Senior Member
      • Dec 2005
      • 3290

      #3
      It looks like

      this part of the bill becomes effective in 2012.

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