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November 17, 2011

Comments

Ron Aran

A lot of confusion/mis-information on the web regarding the repeal of certain parts of the expanded 1099MISC legislation.
Something I would like to know for certain: Has the original stipulation that a 1099MISC had to be filed for the purchase of goods (not services) for more than $600.00 been repealed for 2011 tax year? e.g. Say I sell your business a box of hammers for $1000.00 and you pay me by check, are you obligated to file a 1099MISC for the transaction? I believe the answer is no but I'd like to know for sure ;)

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