[Hidden-tech] 1099 law update?

[Sarah Thompson]

Hi David,

This portion of the healthcare law was very controversial due to the reporting 
requirements that it would have put on small businesses.

http://www.bloomberg.com/news/2011-04-14/obama-signs-law-repealing-business-tax-reporting-mandate-1-.html


As Tom noted, it was repealed a couple of weeks ago - see link above for 
bloomberg article discussing it.

Sarah Thompson
Thompson Business Solutions
(413) 559-8123

 



________________________________
From: Tom Kopec <tek at acm.org>
To: David Korpiewski <davidk at cs.umass.edu>
Cc: email list Hidden-Tech <Hidden-discuss at lists.hidden-tech.net>
Sent: Mon, May 2, 2011 3:54:02 PM
Subject: Re: [Hidden-tech] 1099 law update?

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Repeal was signed into law 4/14/2011.

On 5/2/2011 11:18 AM, David Korpiewski wrote:
> Hi everyone,
>    As I'm sure most of you know, there is a "hidden" 1099 law that was
> put into the health care reform act signed by Obama.  I have heard that
> anything over 600 dollars purchased with the intent to write off against
> taxes needs to be 1099'ed back to the store it was purchased from.  So
> for example buying a laptop computer for 601 dollars from Costco
> requires that we 1099 Costco at the end of the year.

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