Apr 06, 2011

Repeal of Expanded 1099 Reporting Requirement Likely

If you were one of the many small business owners up in arms when lawmakers slipped into the 2010 health care bill a rule requiring all businesses to file 1099 forms for payments to vendors of $600 or more, you may soon have reason to celebrate. Yesterday, Congress passed a repeal of that rule, and President Obama is expected to sign it.

More information about the repeal can be found here and here.