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July 30, 2010

Sole Proprietors May Be Hit With Paperwork Landslide in 2012

Some 40 million taxpayers will be subject to new paperwork requirements next year, including the estimated 26 million who run sole proprietorships, according to a report released recently by the office of National Taxpayer Advocate Nina Olson. The new regulations, which kick in at the start of 2012, require any taxpayer with business income to issue 1099...

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