The latest on 1099 regulations
There are many questions surrounding proposed changes to 1099 regulations and what they will mean for accounting professionals, the business community and others that rely heavily on suppliers, such as manufacturing and wholesale/distribution. In January, we discussed the 1099 changes and how it may impact those in the accounts payable function at their organizations.
According to a recent article on CNNMoney.com, the 1099 issue is receiving much attention in Washington because of the anticipated burden of paperwork the changes will create. Businesses of all sizes, and in all industries, need to prepare to handle the onslaught of paperwork that may be looming beginning in 2012.
To learn more about 1099 regulations and how they could affect your organization, read the full article here. As this situation unfolds, we will post recurring updates here on the MetaBlog.