1099 repeal: Will third time be a charm?
There’s still some hope you won’t have to worry about the massive increase in 1099 reporting that kicks in next year.
Rep. Dan Lungren (R-CA) is set to re-introduce a bill to repeal the healthcare reform law’s 1099 tax provision in the very near future. The 1099 provision requires companies to report all supply purchases of $600 or greater from one vendor — and takes effect in 2012.
This would mark the third attempt to get the 1099 provision thrown out. All previous efforts have been thwarted. First Congress ignored the repeal requests on behalf of an army of concerned businesses.
Then, about a month ago, the Senate shot down an appeal on the new 1099 filing requirements.
We’ll keep you posted on what happens next.
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
Further Reading
There’s a Great Re-evaluation going on among your peers when it comes to health and well-being program benefits. That’s t...
If your employer plans to contribute to Trump Accounts, payroll has until July 4, 2026, to get it right. Coding errors made at setup create...
Some of your year-end health plan responsibilities have lifted, thanks to eleventh-hour legislation from Congress. Plan sponsors that me...
Here’s a common rollover scenario: An individual leaves one employer for another. The previous employer offered a 401(k) plan. The...
Americans use more healthcare services than any other people. So we pay more as a result — and the cost is going up every year. 2025 ...
Reassessing HSA employer contributions can increase participation while capturing meaningful payroll tax savings. Employer contributions to...
