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View Full Version : 1099 provision of Health Care legislation now looks officially dead


Roger
02-19-2011, 10:01 PM
Quoting from my Congressman's weekly report:

The bill would also end the “1099 reporting provision” of the healthcare law, which mandates that businesses or non-profits must file a 1099 with the IRS for each business-to-business purchase of $600 worth of goods or services in a given year. Furthermore, no money allocated under the bill could be used by the President to fund any "Czar" positions in the White House.

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This was part of the spending bill passed at 4:45 a.m. on Saturday, cutting $60B from the Federal budget. The Senate must act on the same legislation, but will not do so until the first days of March (both chambers off on vacation next week). Undoubtedly, the Senate will make changes to the House passed bill.

However, the Senate already had passed such a 1099 elimination (scheduled to start in 2012) a few weeks ago. Therefore, it seems likely the Senate will not alter the provision of the House. I expect other change, but not this one.

After much discussion about this in recent weeks, we can make a good assumption that the 1099 provision will be gone! Thank you!