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
- 5 freeway bridges in need of repair following accident948 Views
- Several deficiencies exposed in Skagit River Bridge collapse606 Views
- VIDEO: Massive steel beam falls off trailer, snatches semi truck onto its side532 Views
- What state has the worst roads and bridges in the country?520 Views
- 70-foot-long bridge survives series of earthquakes440 Views