Story Pitch: New Law Changes May Create Paperwork and Problems for Small Business

The Patient Protection and Affordable Care Act has a few changes within it that may make a significant impact on small businesses. One such change is the expansion of information reporting requirements to business payments for goods - Form 1099. This form has previously focused on reporting compensation for personal services and not goods. If this change is enacted, businesses will have to consider -

- What would have to be reported under this change?
- What will be the cost to businesses?
- How will the calendar year affect the collection?
- What is the justification of the collection of these forms?
- How will this affect a businesses' record-keeping system?

A local CPA can explain the change in the law and how it will affect your readership.