Title Companies Still Face New 1099 Reporting Requirements in 2012

January 20, 2011

With a repeal of the health care reform unlikely, a section of the legislation will require any taxpayer with business income to issue 1099 forms to all vendors from whom they purchased more than $600 of goods and services that year beginning in 2012. Read on to learn how title companies that make non-credit card purchases of more than $600 will be impacted.

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SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.