Repealing the 1099 Reporting Requirement: A Big Win for Small Business The White House
Today, President Obama signed a law that removes the expanded “1099” reporting requirement from the Affordable Care Act. This is a big win for small businesses.
The SBA and President Obama supported repealing this provision, which would have required businesses to send 1099 forms for all purchases of goods and services over $600 annually.
With this bipartisan effort, we have removed a requirement that would have been an undue barrier to small business growth.