The new 1099 mandate I previously discussed here is beginning to attract more attention. Currently, businesses submit 1099′s for every consultant or contractor they hire. Under the new rules, businesses must submit 1099s for every other business with whom they do business. This mandate will inundate small businesses with the requirement to submit a flood of 1099 forms to the IRS starting in 2012.
Now CNN/Money is focusing on the problems associated with the 1099 mandate: