Senate repeals 1099 reporting requirements
Amy Materson | April 12, 2011
The U.S. Senate passed H.R. 4 on April 18, effectively repealing the expanded tax reporting requirements in the Patient Protection and Affordable Care Act. The law had stipulated that, starting in 2012, firms would be required to file a Form 1099 to all vendors they pay $600 or more for goods and services annually.
Construction associations and industry advocates viewed the provision as an onerous one for an industry already suffering significant job loss. “With an unemployment rate at 20 percent – more than twice the national average – delaying action on this measure will not help facilitate a speedy economic recovery,” said Associated Builders and Contractors National Chairman Michael J. Uremovich.
MORE FROM eRoadPro Newsletter
- Secret Cold War bunker found inside Brooklyn Bridge (PHOTOS)2176 Views
- Highway users, road builders oppose bill to surrender federal highway authority635 Views
- New use of carbon fiber grid in precast concrete piles610 Views
- Tolling becoming the solution of choice for most Americans520 Views
- Most common work-related deaths for highway and bridge construction workers496 Views