Understanding and Preparing for New 1099 Reporting Changes
By now, either the panic has set in or you are simply unaware of the new 1099 reporting requirements set forth by the Patient Protection & Affordable Care Act that passed in March 2010. The new legislation provides an Amendment to Section 6041 of the Internal Revenue Code, which governs Form 1099 reporting requirements, requiring that companies report any payments to a single payee that total $600 or more in a calendar year. This white paper provides an overview of what these changes are and the very real impact they will have on organizations both large and small. It then looks at how to best prepare to meet the new regulations using technology and best practice processes.
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Learn how to use Lavante Recovery to fund the Lavante TIN Management solution.
Lavante's recovery audit solution can quickly uncover hidden credits with your suppliers that can not only pay for the TIN management process, but provide an ongoing cash stream.
- On-demand TIN Collection and Validation
- Corporate compliance with the new 1099 tax changes
- Timely and cost effective supplier compliance with TIN and W9
- Reduces B-Notices and fines