SBE Launches Petition Against 1099 Reporting Mandate
SBE Launches Petition Against 1099 Reporting Mandate
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A provision (Section 9006) in the "Patient Protection and Affordable Care Act" signed by President Barack Obama in March mandates that all businesses issue a 1099 form for all vendor payments totaling $600 or more on an annual basis. This new mandate vastly expands current requirements, and is scheduled to begin in 2012. According to Kerrigan, the provision was included in the health care bill as a revenue raiser ($17 billion), but there has been no analysis completed to demonstrate how effective the measure will be at closing the "tax gap."
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- People:
- Barack Obama
- Karen Kerrigan
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