Let There Be Forms 1099
Forbes.com
3 Pages Posted: 24 Oct 2010
Date Written: October 22, 2010
Abstract
"Let there be a plague of Forms 1099,” Congress said. “And so there was. The tax forms came forth and multiplied like sheaves of wheat on a fertile plain. The forms thrived. They covered the plain and blackened the skies. And Congress was content with what it had made. And the IRS liked it too."
Sacrilege? Blasphemy? Maybe, but it’s not exaggeration to suggest we’re about to have a plague of Forms 1099 of truly biblical proportions. Why? The meant-to-be prophetically-named Affordable Health Care Act of 2010 spit out two new categories of payments required to be reported on Forms 1099.
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