1099 Checkbox on all business schedules..

[equinecpa]

Am I the only one perturbed by the new 1099 check box on all the business schedules?

"Was this business required to issue 1099's...
Did this business issue all required 1099's...."

I'm asking everyone of my clients for whom I don't already do their 1099's. It's a royal pain as 9 times out of 10 I end up having to do 1099's for these clients and I hate preparing 1099's!

Then there are those who don't have SS#'s for the individuals or can't track down the individuals or the individuals don't return their call, so do I answer "No" for these ones? Isn't that asking for trouble? Or do you just prepare an incomplete 1099...

Thank's for letting me vent. Back to work

Carolyn

[S T]

Yes, I a pertrubed as well - we are now the "Revenue/Form Police"

Guess -- what all of those questions on the 2011 forms C, E, partnership returns, are for, someone thinks that they will find "unreported income" and "non compliance" for filing.

Seems like this is going to be a very large "burdensome" reporting if not for 2011, for 2012 for sure. (Biz and Accountants) What I really don't like is the reporting and accounting on the 1099K form - that is going to be a nightmare for retail biz - accounting for sales tax, cash back, tips(if restaurant)

Thanks for posting, as now I have vented as well!

Sandy