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More from the Healthcare Reform Bill - New 1099 Requirements: Corporations Not Exempt from Reporting

Posted 2:06 PM by

An interesting bit of the Healthcare Reform Bill received some publicity this week in a article. The key news is that corporations will no longer be exempt from 1099 reporting requirements.  This change is effective for transactions beginning January 1, 2012. 

This will no doubt be an administrative burden upon implementation and surely gives the IRS more tools to track the underreporting of income. 

This is another small, but important requirement for healthcare accounting / healthcare tax compliance personnel.  The onion that is the Healthcare Reform Bill continues to unfold.

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