President’s Speech Offers Hope for Some Relief; Exceptions for Rental Income Reporting Remain Vague

For small businesses that were dreading the thought of having to produce a Form 1099 for every payee to which they paid at least $600, President Barack Obama offered the prospect of relief in his State of the Union speech Jan. 25 when he said, “We can start right now by correcting a flaw in the [health care] legislation that has placed an unnecessary bookkeeping burden on small businesses.”

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AccountingToday (2 Feb 11)