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3 minutes read
The Internal Revenue Service is reminding U.S. citizens and resident aliens, including those with dual citizenship who have lived or worked abroad during all or part of 2011, that they may have a U.S. tax liability and a filing requirement in 2012.
1 minute read
Due to newly enacted legislation companies that pay any individual or corporation for goods or services more than $600 will be required to issue a 1099 to report the transaction to the Internal Revenue Service beginning in 2012. This creates a financial burden on small businesses that may not have the means to track and report every transaction for the year.