2010 health care bill supposedly requires 1099 for more than $600 per year.
Create website that will generate PDF of 1099s that people can print to send to their cable/phone/water/internet providers. Maybe even fuel purchases and grocery store purchases.
Use fonts that are difficult to scan.
Allow easy printout with optional mailing label printout.
Consider hooks into state secretary of state filings for the business to get the official business name and address - so it matches for tax purposes.
Put ads on the site.
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IRS Code of 1986
TITLE 26, Subtitle F, Chapter 61, Subchapter A, PART III, Subpart B
§ 6041. Information at source
(a) Payments of $600 or more
All persons engaged in a trade or business and making payment in the course of such trade or business to another person, of rent, salaries, wages, amounts in consideration of property, premiums, annuities, compensations, remunerations, emoluments, gross proceeds, or other fixed or determinable gains, profits, and income (other than payments to which section 6042 (a)(1), 6044 (a)(1), 6047 (e),6049 (a), or 6050N (a) applies, and other than payments with respect to which a statement is required under the authority of section 6042 (a)(2), 6044 (a)(2), or6045), of $600 or more in any taxable year, or, in the case of such payments made by the United States, the officers or employees of the United States having information as to such payments and required to make returns in regard thereto by the regulations hereinafter provided for, shall render a true and accurate return to the Secretary, under such regulations and in such form and manner and to such extent as may be prescribed by the Secretary, setting forth the amount of such gross proceeds, gains, profits, and income, and the name and address of the recipient of such payment.
Thursday, July 08, 2010
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