President signs repeal of 1099 tax language

Posted 19 April 2011

On April 14 President Obama signed H.R. 4, repealing the 1099 tax reporting requirements that were contained in the "Patient Protection and Affordable Care Act." The provision would have required businesses to file a Form 1099 document with the Internal Revenue Service for purchases of goods and services exceeding $600 a year.

The AVMA joined other small business groups in opposing that requirement as a costly paperwork mandate that would have added an undue burden to small businesses such as veterinary clinics.

The president said in a statement, "small business owners are the engine of our economy and because Democrats and Republicans worked together, we can ensure they spend their time and resources creating jobs and growing their business, not filling out more paperwork."

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