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1099 repeal signed by Obama includes rentals

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    #1

    1099 repeal signed by Obama includes rentals

    President Signs Repeal of Expanded 1099 Requirements
    http://www.journalofaccountancy.com/Web/20114071.htm
    On Thursday, President Barack Obama signed into law the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 (HR 4; 1099 Act), which repeals both the expanded Form 1099 information reporting requirements mandated by last year’s health care legislation and also the 1099 reporting requirements imposed
    Believe nothing you have not personally researched and verified.
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    #2
    THANKS the rental part "slipped" by me.....

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      #3
      I checked it twice to be sure because I had not heard that it would be included in the repeal. Actually since the reason for the law originally was to catch the cash business cheaters it really surprised me that they repealed it for rentals.
      Believe nothing you have not personally researched and verified.

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        #4
        1099s Repealed

        Originally posted by taxea View Post
        http://www.journalofaccountancy.com/Web/20114071.htm
        Thanks much for the timely post, taxea. I was unaware of this and it's important to some of my clients.

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