News Headlines Article

House bills take aim at 1099 rule
Modern Healthcare

Members of the House panel responsible for making tax laws on Thursday approved two bills to repeal the contentious 1099 federal reporting requirement included in the health reform law. The House Ways and Means Committee first passed H.R. 4, the Small Business Paperwork Mandate Elimination Act of 2011, which overturns the provision in the Patient Protection and Affordable Care Act requiring businesses to file a form with the Internal Revenue Service for every vendor with which they had conducted a transaction worth $600 or more.