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#1
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Administration's new tax proposal
"HeyBub" wrote in message m... "Recipients of real estate rental income that make payments of $600 or more to a service provider (such as a plumber or accountant) in the course of earning rental income would be required to send an information return (generally, Form 1099-MISC) to the IRS and to the service provider. There will be a lot of contracts for $599 |
#2
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Administration's new tax proposal
On May 12, 9:07*pm, "Ed Pawlowski" wrote:
"HeyBub" wrote in message m... "Recipients of real estate rental income that make payments of $600 or more to a service provider (such as a plumber or accountant) in the course of earning rental income would be required to send an information return (generally, Form 1099-MISC) to the IRS and to the service provider. There will be a lot of contracts for $599 And those that aren't will be split into multiple jobs for $599 or less. |
#3
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Administration's new tax proposal
"akaSoetoro" wrote in message .. . BobR wrote: On May 12, 9:07 pm, "Ed Pawlowski" wrote: "HeyBub" wrote in message m... "Recipients of real estate rental income that make payments of $600 or more to a service provider (such as a plumber or accountant) in the course of earning rental income would be required to send an information return (generally, Form 1099-MISC) to the IRS and to the service provider. There will be a lot of contracts for $599 And those that aren't will be split into multiple jobs for $599 or less. when you 1099 someone it is for income in a year. doesn't matter what the individual jobs cost. Right, but Bob Smith charged me $500, Robert Smith charged me $500, Mary Smith charged me $500. So many ways around this sort of thing it is silly. The legitimate contractors, of course, will be filling out more paperwork at the 1099's come in. Just an added step. |
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