• imposing withholding on non-employee payments, specifically payments made to independent contractors;

  • increased information reporting by card companies to the IRS on the credit/debit card transactions of businesses;

  • information reporting requirements on all payments of $600 or more to corporations;

  • requiring businesses utilizing contractors to obtain and verify an accurate Taxpayer Identification Number (TIN) for those contractors receiving payments of $600 or more and creation of a voluntary withholding system.

It would behoove you to follow up, and do some further research or contact your private accountant for futher information.