Senate Passes House's 1099 Repeal Bill by Kimberly I. McCarthy, Esq.

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We have been informed that the Senate just passed HR4, by a margin of 87 to 12. This bill repeals the controversial 1099 provisions contained in the federal Health Care Reform Law, as well as the rental property 1099 provisions. The bill also modifies the Health Care Tax Credit. On the heels of the bipartisan passage of the House version by a large margin, it appears that the bill is likely to be signed and enacted in short order.

The House voted today to repeal the controversial expansion of 1099 reporting requirements enacted by the Health Care Reform law. The bill, if passed, would delete the new 1099 provisions as if they were never enacted in the first place. The bill now goes to the Senate for consideration.

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