Posted: 4/6/2011
1099 Repeal Heads to President Obama’s Desk
Today the Senate voted 87-12 in favor of a House-passed bill that would repeal a tax-reporting requirement included in the health care law. Passed as part of last year’s sweeping healthcare reforms and heavily opposed by NAMIC, the provision required companies to file a 1099 form with the IRS every time they conducted $600 worth of business with a vendor in a single year.