Quote:
Originally Posted by red-beard
It isn't just the 1099 that we have to send out, now we will have to send in copies of each 1099 with our taxes. That means that EVERY transaction in the USA over $600 will be reviewed by the IRS. EVERY single one.
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they can't even review a very, very small % of the tax returns that get filed. i don't think it's going to be like you're saying here.
am MUCH more concerned about getting erroneous 1099's and the earlier statement that this could be a lead in to a VAT.