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White House repeals 1099 reporting requirement

Post Time:Apr 15,2011Classify:Industry NewsView:66

Last week, after Congress repealed the 1099 reporting requirement included in last year’s health care law, President Obama signed the legislation into law April 14. Consequently, beginning in 2012, businesses will no longer be required to issue 1099 forms to vendors from whom they buy more than $600 worth of goods or services in any year.

Readthe White House release.

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Source: http://www.glassmagazine.com/news-item/commercial/white-house-repeals-1099-reporting-requirement-117986Author:

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