Summary

To repeal the expansion of information reporting requirements for payments of $600 or more to corporations, and for other purposes. Read More

Status

This bill was enacted after being signed by the President on Apr 14, 2011.

Date Introduced
Jan 12, 2011

Co-Sponsors

r-236
d-37

Bill Text

A BILL

To repeal the expansion of information reporting requirements for payments of $600 or more to corporations, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Small Business Paperwork Mandate Elimination Act of 2011''.

SEC. 2. REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS.

Section 9006 of the Patient Protection and Affordable Care Act, and the amendments made thereby, are hereby repealed; and the Internal Revenue Code of 1986 shall be applied as if such section, and amendments, had never been enacted. <all>

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Sentiment Map

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Nation

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State: CA

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District: 1st

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Popularity Trend

Organizations Supporting

We strongly support this legislation to repeal the new 1099 reporting provisions, which would bury our hometown publishers - and our small business advertisers - in needless paperwork. The $600 annual threshold for all goods and services would trigger an avalanche of duplicative reporting and needlessly risk identity theft.

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H.R. 4 would repeal a portion of the Patient Protection and Affordable Care Act that requires small business owners to file a 1099 form for every business-to-business transaction over $600 a year. This new reporting requirement will wreak havoc on small businesses by drastically increasing their paperwork burden. http://www.bipac.net/issue_alert.asp?chk=jClXnU&g=NFIB&issue=Fed_02/16/11_1099repeal_km&parent=NFIB

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Supports HR 4. SEMA has steadfastly opposed the burdensome rule that will require businesses to issue 1099 reporting forms to all vendors from whom they buy more than $600 of goods or services in any year, beginning in 2012. http://www.sema.org/sema-enews/2011/04/president-obama-asks-congress-to-repeal-costly-1099-reporting-requirement

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Supports HR 4, the Small Business Paperwork Mandate Elimination Act of 2011, which would repeal Section 9006 of the Patient Protection and Affordable Care Act (P.L. 111-148) and relieve the extremely burdensome Form 1099 reporting requirements on small business taxpayers.

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AGC supports H.R. 4, the Small Business Paperwork Mandate Elimination Act, which amends the Internal Revenue Code to repeal a provision (added by the Patient Protection and Affordable Care Act) that extends to corporations that are not tax-exempt the requirement to report payments of $600 or more. http://www.agc.org/cs/advocacy/tax/repeal_new_1099_reporting_requirements

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Supports HR 4. The AMA is concerned that applying the expanded form 1099 requirements to physicians will be onerous and extremely burdensome, especially for those physicians in small practices. The stricter requirements will force business owners to collect tax identification information for companies, contractors, and vendors. Business owners will have to file two forms for each transaction—one with the IRS and the other with the vendor. These provisions will create an expensive reporting burden that will negatively impact the operations of businesses, particularly small businesses.

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Bill Summary

H.R. 3 No Taxpayer Funding for Abortion Act H.R. 5the Protecting Access to Healthcare (PATH) Act