Anyone know why this was put into the bill? What good intentioned upside someone is trying to accomplish?
To make sure that retailers/sellers are accurately reporting their sales and not lowballing their revenue numbers on their tax returns. It's basically to reduce tax fraud with the hope that the extra tax income (which is assumed that corps or fraudulently not paying) can be used to pay for health care without having to add additional taxes.
Are cell phone companies going to issue 1099s to most of America, and all users have to do the same?