US Senate Passes 1099 Repeal; Bill Awaits President’s Signature

The Senate passed HR 4—Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 on Tuesday. It eliminates a provision of the Patient Protection and Affordable Care Act that requires businesses, including physician offices, to file IRS form 1099 for any payments totaling $600 or more in a year that are made to another business in exchange for goods or services. The bill was sent to the White House for the President’s signature. Elimination of the 1099 reporting requirements is one of the ACA improvements sought by the AMA and the NCMS.
 
 

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