Changes to information return filing requirements.

• Position: FTBNEWS - Brief article

Federal law has expanded the filing requirements for information returns, which apply to payments made after Dec. 31, 2011. Every person engaged in a trade or business must now issue information return, Form 1099, when aggregate payments of $600 or more per calendar year are made to corporations other than tax-exempt corporations for specific payments. Prior law required this only for specific payments made to individuals. Furthermore, payments of "amounts...