Appeals to Repeal Tax Requirement on Health Law Fail

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The hotly debated tax requirement that comes into effect in 2012 pertaining to the Health Care Bill continues to stand in its present form after one round of voting in the Senate over two proposals to repeal or amend it. The tax regulation is that all businesses must report any expenses they make to any vendor or contractor above $600 in a year through a Form 1099 that is to be sent to the IRS. Similar forms are to be sent to the respective vendors and contractors as well.

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