Tuesday, April 05, 2011

Plucking the Low-Hanging Fruit: Congress Backs Away from Health Care 1099s

By a 87-12 (wonder who the twelve were?) vote, the Senate passed House-based legislation to repeal the "Obamacare" requirement that required businesses, charities and state and local governments to provide Form 1099s to many vendors if annual purchases reached $600 or more. Praise came from executives of the AICPA and the National Association of Accountants.

This is the easy part of dealing with last year's health care legislation. For here out, things grow much more contentious, perhaps starting with this week's attempt to avoid a government shutdown. While Republicans believe that independents as well as their base want either elimination or at least massive rework of the legislation, Democrats are equally convinced that this law will work to their benefit in time.


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