Quote:
Originally Posted by Porsche-O-Phile
Under present law you're supposed to file a 1099-MISC every time you bill/earn more than $600 in a given year as an independent contractor. I don't see the change here, really just nothing more than a change in interpretation/clarification of existing law.
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You are reading the new rule wrong.
Under the old rule, when a small business buys $600 of papers and staples from Office Depot, it is not required to send a 1099 to Office Depot.
Under the new rule, it is required to do so.