My CFO said he heard that president Obama has signed the repeal of the 1099 reporting requirements enacted by the Healthcare legislation bill. Can you confirm?
The president signed the repeal on Thursday, April 14. Its important to note that the repeal only refers to the expanded reporting requirements found in the health care bill. The repeal means that in 2012 business will not have to report payments to corporations or payments for merchandise. However, the increased penalties that were also passed last year are part of different legislation and have not been repealed.
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