1) Form 1099-K Online Sellers Brace for a New Tax Filing Requirement form (Article from Entrepreneur.com/The Daily Dose blog )
My Comment: Form 1099’s are confusing at the best of times: when to send one, whom to send one to etc. Now, with the seemingly inexorable movement to taxation of online transactions, there is yet another form 1099 that business has to be aware of. This article from Entrepeneur.com gives an outline of the requirements. As always, I suggest that you talk to your tax advisor to make sure you understand the requirements. Simply ignoring the issue, while perhaps comforting in the short run, is not, in my opinion, an appropriate strategy for any decision maker as standard operating procedure.
About the author – Robin Beukers MBA CPA CMA CIA
I act as interim c.f.o., controller or special projects lead (for example, development and review of financial statements and internal controls, financial modeling, acquisition/funding risk assessment). Clients range from Fortune 100 level to startups.