Two 1099 Amendments Fail

Two 1099 repeal amendments were debated yesterday as part of the food safety bill, but both failed under the Senate’s 2/3rds rule for passage. The Johanns amendment (S.Amdt 4702) was a complete repeal with the offset coming from rescinding $39 billion in non-Defense Department discretionary spending, i.e. unused stimulus funds.  His amendment failed 61-35, with… Read more »

Senator Baucus Calls for 1099 Repeal

Sen. Max Baucus, D-MT, speaks during a news conference to discuss how to improve The Patient Protection and Affordable Care Act, signed into law yesterday by U.S. President Barack Obama, on Capitol Hill in Washington on March 24, 2010.  UPI/Roger L. Wollenberg Photo via Newscom

Senator Max Baucus (D-MT), chair of the Senate Finance Committee, pledged on Friday to introduce legislation that would repeal the expanded 1099 reporting requirement contained in the health care bill, according to the National Journal. The Patient Protection and Affordable Care Act (PPACA) contained a provision (passed by the Senate Finance Committee) that would expand… Read more »

ASAE 1099 Letter Has Over 550 Signatures

DES PLAINES, IL - MARCH 23:  Various tax forms for 2005 are seen at the Des Plaines Public Library March 23, 2006 in Des Plaines, Illinois. As next month

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 »

Small Biz Lending Bill Does Not Contain 1099 Repeal

U.S. President Barack Obama signs the Small Business Jobs Act in the East Room of the White House in Washington on September 27, 2010. The bill extends Recovery Act measures to increase lending and provide tax relief for small businesses in the U.S.  UPI/Roger L. Wollenberg Photo via Newscom

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 »