1099 Repeal Appears Certain

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Several bills, including a bipartisan effort from Senators Baucus and Reid, have been introduced this session to repeal the 1099 provisions of the Health Care Reform Act.

As discussed in prior e-Alerts (links below), the 1099 provisions would greatly expand the way in which businesses report ordinary expenditures. Under the new law, businesses would have to obtain an EIN and file a 1099 for purchases that run to more than $600 per year, regardless of who the vendor is.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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