According to the IRS, if you made or recieved a payment during the caledar year as a small business or self-employed individual, you are most likely required to file an informational return to the IRS.
However, an informational return is not required if you are not engaged in a trade or business, or if you are engaged but the sum of all payments made to the person or unincorporated business is less than $600 in a calendar year. Learn more.
The 2011 Repeal of the 1099 Amendment
On February 2, 2011, the President signed an amendment to repeal the new IRS Form 1099 reporting requirements enacted as part of the health care law (see below for details about the law).
The amendment completely repeals the expanded 1099 reporting requirement in the new health care law and pays for the repeal with unspent appropriated funds, or already appropriated money from various federal agencies, as directed by the Office of Management and Budget. The amendment passed 81-17 with unanimous Republican support and 34 Democrats voting in favor.
“Today we provided a common-sense solution for business owners so they can focus on creating jobs, not filling out paperwork for the IRS,” Stabenow said after the vote. “Since last year, I have worked with my colleagues on both sides of the aisle to address this problem. If left unchecked, 40 million small businesses would see their IRS 1099 paperwork increase 2,000 percent.”
IRS Form 1099 Frequently Asked Questions
2015 Form 1099 Instructions