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Senate Votes on 1099 Reporting

6. April 2011 08:55

The Senate voted Tuesday to repeal the 1099 tax reporting requirement imposed as a provision of PPACA for small businesses. The final vote was 87- 12 to repeal the widely unpopular requirement that businesses report all purchases of $600 or more to the IRS.

 

If enacted into law by President Obama, the measure would mark the first successful effort to repeal part of the national health care overhaul.

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