Recent Movement for the Repeal of the New Information Reporting Requirement

By an 81-17 vote, the Senate passed an amendment that would repeal a health care reform provision that requires a business to file Forms 1099 with the IRS any time the business spends more than $600 a year with any other business. That requirement, which is scheduled to go into effect in 2012, is a significant … Continue reading Recent Movement for the Repeal of the New Information Reporting Requirement

Senate Fixes An Onerous Reporting Requirement With An Onerous Reporting Requirement?

By Dustin Covello As we’ve discussed previously at the TaxBlawg, a minor provision of the Patient Protection and Affordable Care Act – Section 9006, which dramatically expands the requirements for reporting payments on Form 1099 – has become a hot-button issue in Congress.  Prior to the law, Form 1099 reporting was not required for payments … Continue reading Senate Fixes An Onerous Reporting Requirement With An Onerous Reporting Requirement?

Certain Uncertainty: Congress Juggles Tax Proposals

By Jonathan Prokup Although death and taxes might, according to Benjamin Franklin, be the only certainties in this world, Congress is surely striving to add another - that is, the certainty of uncertainty.  Congress, it seems, is committed to keeping taxpayers in as much doubt as possible for as long as possible about the status … Continue reading Certain Uncertainty: Congress Juggles Tax Proposals