Earlier this month, Senate Democrats introduced a bill to repeal the widely unpopular 1099 tax reporting provision of PPACA. Although the provision seemed deemed for elimination, the bill was approved by the House Ways and Means Committee and the dispute will play out again when the legislation reaches the House floor. The House is expected to vote on the measure possibly as soon as next month.
The healthcare overhaul's 1099 provision requires businesses to report the purchases of goods and services of $600 or more from each vendor. Companies - particularly small businesses - have complained about the requirement which they say creates an onerous paperwork burden.
