Wait - I have to 1099 the City of Norflolk?
Bizarro world.
This is bizarro world. My expenses on a rental house that exceed 600 per year are for mortgage, taxes, utilities and insurance - all big entities. The little guys who mow my lawn and occasionally do plumbing do not exceed the $600 threshold. Thus, I’ll be sending 1099’s to those who already report all their income and the income by the small guys, who they really want to capture, will not be reported. Really stupid and really burdensome.
“Wait - I have to 1099 the City of Norflolk?”
Well, governments (fed, state, and local) were always exempt from getting 1099’s before. Can’t say for sure now.