From ASMP :

One of the provisions of the new healthcare reform legislation will significantly impact the administrative burdens of the photography business unless the IRS changes it. As of now, after next year, if any company or person is paid more than $600 in a year for goods or services, it must be reported to both the IRS and the entity/person. For example, if you bought a new camera or lens for $1,000, you would report that on your income tax returns and issue a 1099 to the company from which you made the purchase. Fortunately, there is now an exemption for credit card transactions, but that doesn't apply if you paid by cash or check. The IRS has asked for comments from the public by September 29th.. Find out what you can do here