Senate repeals 1099 reporting requirements
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
- Obama signs memorandum to expedite infrastructure projects662 Views
- Sydney uses water curtains to alert drivers to stop (VIDEO)391 Views
- Florida’s Red Light Camera Game: G R E E N orange R E D390 Views
- Seattle tests bikes as disaster relief (VIDEO)357 Views
- FHWA deploys bridge-inspecting robots293 Views