2011 Legislative Agenda : Capitol Watchdogs Wanted

Businesses have always been on the hook to send out 1099s for service payments of $600 or more during the year. Unless the new beast is slain in 2011, businesses will be required to send out 1099s for payments of $600 or more for property or gross proceeds.

Essentially, 1099s would go out to every vendor that is paid $600 and above. The language was included in the healthcare law, with the expectation that it would provide $19 billion in revenues across a 10-year stretch.