President signs 1099 Form Repeal
Posted on April 15, 2011
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Thursday, President Obama signed the repeal of the 1099 form tax reporting requirements that was a part of the health-care bill. The provision would have required all businesses to submit the form to any vendor from whom they had purchased goods or services totaling $600 or more in a tax year. You should check with your accountant to see if you qualify to file these forms under the previous requirements.