Correction: The new reporting requirements under these amendments apply to payments made after December 31, 2011. ASMP has it wrong below:
One of the provisions of the new healthcare reform legislation will significantly impact the administrative burdens of your business unless the IRS changes it. As of now, starting next year, if you pay any person or corporation more than $600 in a year for goods or services, you must report that to both the IRS and the entity or person whom you paid.
Read how you can publicly comment (here).