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NRF welcomes repeal of tax provision in healthcare law
WASHINGTON — The National Retail Federation said it welcomed the House of Representatives' vote to repeal a provision in last year’s healthcare-reform law that would widely expand the number of IRS 1099 tax forms businesses would be required to file.
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1099 provision of PPACA overturned in House vote
ALEXANDRIA, Va. — The House of Representatives on Thursday passed the bipartisan Small Business Paperwork Mandate Elimination Act of 2011, which repeals the tax-reporting requirement for small businesses included in the healthcare law.
The legislation, introduced by Rep. Dan Lungren, R-Calif., passed in a 314-to-112 vote. The provision, which was part of the Patient Protection and Affordable Care Act , would increase 1099 tax reporting requirements for businesses that purchase goods and services of more than $600.