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President Obama Signs 1099 Repeal

President Obama has signed the bill repealing the expanded 1099 reporting requirement that was a part of the healthcare law enacted last year. The White...
April 19, 2011

President Obama has signed the bill repealing the expanded 1099 reporting requirement that was a part of the healthcare law enacted last year. The White House says the President signed the repeal late Thursday April 14. The repealed provision would have required all business entities to file a 1099 form with the Internal Revenue Service for each vendor for whom they have cumulative transactions of $600 or more. It would have gone into effect in January 2012. The legislation also repeals an additional Form 1099 reporting requirement imposed on owners of rental real estate.

In signing the bill, President Obama said, "Small business owners are the engine of our economy and because Democrats and Republicans worked together, we can ensure they spend their time and resources creating jobs and growing their business, not filling out more paperwork."

Over the past year, PIA National conducted sustained lobbying on repealing the provision, sent letters to congressional leaders, utilized our District Lobbying Day and Federal Legislative Summit, maximized our exposure through industry coalitions and the press, and worked in counterpart with the PIA affiliates in issuing grassroots alerts.

"There is no better illustration of the effectiveness of a concerted, sustained grassroots effort by PIA members to advocate on behalf of their business interests," said PIA National Executive Vice President & CEO Leonard C. Brevik. "This was a big win for all PIA members and for all small businesses."

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