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:
“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)
“He [Roosevelt] has made some speeches that indicate that he is going quite beyond anything that he advocated when he was in the White House, and has proposed a program which is absolutely impossible to carry out except by a revision of the Constitution.”
—William Howard Taft (1857–1930)