"Reporting of Payments to Corporations and for Goods.
Effective for payments made beginning in 2013, the Reform Act expands the current Form 1099 information reporting requirement for compensation paid for services to individuals and partnerships to payments made to corporations and to payments made for goods as well as services
Do you have the specific statutory language? That is what controls and is, ultimately, what the IRS will use to promulgate any regulations. And no, I still do not think it’s even remotely related to implementing a VAT because the information-reporting arrangements using the various forms 1099 is already comprehensive and has been in place for years.