An article in the Wall Street Journal today says that members of the president’s deficit commission could consider eliminating some popular tax credits in their final commission report. The panel, known as the National Commission on Fiscal Responsibility and Reform, must present recommendations to Congress by December 1 that would balance the budget, excluding interest… Read more »
The Obama administration this week issued additional guidance on the so-called grandfathered health care plans, but that guidance failed to address the cost issues ASAE raised in its comments.
Associations from across the country joined in their opposition to the new 1099 requirements in the Patient Protection and Affordable Care Act by adding their names to the ASAE letter opposing the onerous paperwork burden. ASAE’s letter, which was delivered to Congress in September, had signatures from over 550 association executives, staff, volunteer leaders, and… Read more »
The IRS last month released a draft version of the form that small businesses and tax-exempt organizations will use to calculate the small business health care tax credit when they file returns next year. The draft of Form 8941 is posted on the IRS website. Both small businesses and tax-exempt organizations will use the form… Read more »
Before adjourning for the 2010 campaign season, the Senate rejected two amendments to the small business lending bill that would have alleviated the onerous new Form 1099 reporting requirements contained in the Patient Protection and Affordable Care Act (PPACA). The new requirements would force all businesses and tax-exempt organizations to issue a Form 1099 to… Read more »