A provision in the recently signed Small Business Jobs Act requires all landlords (not just those whose rental activities constitute a trade or business, as under prior law), beginning in 2011, to send 1099 forms to accountants, painters, plumbers, and other contractors to whom they pay more than $600 for services in a particular year. When ObamaCare kicks in in 2012, all landlords will be required to send 1099 forms to any company they buy $600 of goods and services from — even Home Depot and Lowe’s.
- Americans for Tax Reform, Congress Set to Pass ANOTHER 1099-MISC Paperwork Burden
- Business Tax Advisor, 1099s for Landlords Included in Small Business Jobs Act
- Forbes, Landlord Alert — More Tax Paperwork On The Way
- Wall Street Journal, Provision in Small-Business Bill Irks Companies
