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Managing Accounts Payable

July 2009

FORM 1099: Obama Proposes More 1099 Reporting to Catch Tax Cheats

Your AP department will have a lot more Form 1099 work to do under President Obama’s new budget plan. The government’s goal is to ferret out individuals and businesses that under-report their income. True, these proposals have been kicking around Washington for a few years, but they’re now more likely to pass. Reason: The increased tax revenue they’ll bring to the government will offset Obama’s planned tax breaks for individuals and businesses.
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