House GOP Tax Package: The Kickoff for Congressional Bargaining?
Tax Notes Talk
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The Republican Proposal to Increase Form 1099 Reporting From $600 to $5,000
The threshold for 1099 mists and 1099 NECs has been increased from $600 to $5,000. The first information return was 1917 for employee compensation of more than $800; now we're at $600. "I'm really concerned that these information reporting measures will divide our country into tax chiefs and tax chumps," he says.
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