1099 law change for 2012

In the US, changes are coming to the requirements for 1099 reporting - basically any vendor paid more than $600 in a year needs to be given a 1099; no payments without first knowing the vendor's SSN/TIN, some address rules, etc. This means huge numbers of 1099s will be required to be issued for even midsize companies.
I know this is early, but has anyone begun to look at how to accomodate these changes in SAP?
Edited by: Matt Cicero on Nov 22, 2010 4:54 PM

michelle, the 1099 report allows for the date restriction. in order to flag 1099 vendors, you must implement a small amount of configuration.
take the class called Sales/Use Tax for the US. the instructions for configuration of withholding tax is in that class. i believe that it is even offered online from sap now.
the running of 1099 vendors should take 20+ minutes, depending on the size of the company. perhaps, an hour or two to print for a large company which runs revenues into the $$ billions yearly.
best
dl

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