1099 Reporting

[bumpus7]

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I know a man who has been working for cash under the table for over 25 years.
As a painter he made a fair amount money and spent a lot over the years.

Well some of the contractor he worked for got busted for no giving him 1099's
and they turned his name over to the IRS.

They are going back to 2001 and some other years after.

With the money he was paid, the extra fines, and penalties,
he now owes around $60,000.00


Under the Obama ruling they ( IRS ) are cracking down hard
and many contractors, and people who have been busted
and paying a lot of money they owe.
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[MrRational]

Originally Posted by bumpus7

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I know a man... With the money he was paid, the extra fines, and penalties,
he now owes around $60,000.00

And when he wants to file for SS... guess what?

The need/desire and basic laws to report (and collect) these payments have been in place forever.
Exactly as sales tax on mail order and online purchases have always been in place.

The reporting rules have been tightening up for over twenty years...
as the ability to track compliance (and scofflaws) increases.