Proposed Changes
Current proposals to the regulations include tax withholding on payments to independent contractors, a requirement for credit card companies to report to the IRS the gross receipts for businesses that accept their cards, and the elimination of corporate exemption to 1099 reporting.
Read more about this topic: Tax Information Reporting
Famous quotes containing the word proposed:
“We have no one to blame for the Kennedys but ourselves. We took the Kennedys to heart of our own accord. And it is my opinion that we did it not because we respected them or thought what they proposed was good, but because they were pretty. We, the electorate, were smitten by this handsome, vivacious family.... We wanted to hug their golden tousled heads to our dumpy breasts.”
—P.J. (Patrick Jake)
“On the 31st of August, 1846, I left Concord in Massachusetts for Bangor and the backwoods of Maine,... I proposed to make excursions to Mount Ktaadn, the second highest mountain in New England, about thirty miles distant, and to some of the lakes of the Penobscot, either alone or with such company as I might pick up there.”
—Henry David Thoreau (1817–1862)