Burdensome 1099 Rule Repealed
Last year I wrote about a rule buried deep within the cavernous provisions of the healthcare reform act which would have required small businesses to file 1099 forms for every purchase over $600. Small business owners across the nation could be heard grumbling about the provision, which would have placed an additional administrative burden on companies already spread thin.
We can now breathe a collective sigh of relief because President Obama signed a bill to repeal this provision earlier this month. Whew!