- $852 of office supplies purchased from Staples
- $2,592 of airline tickets purchased directly from the airlines
- $1,300 of services from their CPA firm
Issuing a 1099 for $700 of services rendered by a web designer makes sense though and existing law already covers that.
Where is the line between an action that improves compliance without causing unnecessary costs and burdens to reporters?
What are better steps to take to reach the taxpayers with the poorest compliance?
I've got a short article in this week's AICPA Corporate Taxation Insider on 1099s noting the problems with recent changes to greater use and alternatives - 1099s - The Good, the Bad and the Ugly.
What do you think?