Thursday, February 3, 2011

1099 Tracking Requirement Repealed

The Senate approved an amendment Wednesday to repeal the expanded 1099 information reporting requirements in the health care reform law.

The requirements, which were originally included Obamacare Bill, would have required businesses to report to the IRS any purchases of goods and services over $600 a year from another business or individual.

The Senate vote was 81 to 17.


  1. Has the House of Representatives already dealt with this ?
    Will Obama veto this ?
    Or will he just not sign it and let it go into law that way.

  2. He already signed it and let it go into law.

  3. If I recall, during the SOTU, Obama specifically called for the repeal of this provision.

  4. Talk about a ridiculous proposal that should have never seen the light of day. The 1099 provision would have just created more paper. And didn't the Feds pass the Paperwork Reduction Notice about 40 years ago? Talk about an institution that can't follow its own rules!