1099 Repeal Goes to the White House
You spoke and Congress listened!
Nearly a year in the making, Congress successfully overturned Section 9006 of the Patient Protection and Affordable Care Act (PPACA). This provision is one that would have required extensive Form 1099 reporting for all business-to-business transactions that exceeded $600.
“Photographers and small-business owners everywhere can rest easier knowing that this burdensome tax reporting will not take effect at the end of the year,” comments David Trust, PPA Chief Executive Officer. “The reversal of this harmful tax provision would not have happened if members had not reached out to their congressional representatives.”
The version of H.R. 4 that is on its way to the White House for signature includes:
- Repeal of the Form 1099 tax reporting requirement that was to be imposed on small businesses.
- Repeal of an additional Form 1099 reporting requirement on owners of rental real estate
- Reduction of the improper overpayments of exchange subsidies established under PPACA.
PPA anxiously awaits confirmation of when the bill will be signed into law by the President.
To find out how your senator voted, visit:
To find out how your representative voted, visit: http://clerk.house.gov/evs/2011/roll162.xml