As discussed previously on this blog, the Health Care Reform Act included an obscure, unjustified tax requirement that businesses file a 1099 for services or goods procured over $600.00. Some businesses may not even know about the 1099 requirement yet. Fortunately, the requirement appears to be on its way out the door already.
Assuming President Obama signs the repeal, the 1099 requirement will be axed before it ever takes effect. This is a good thing.
