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advocacy community education
23
On Thursday, April 14, 2011, President Barack Obama signed into law H.R.
4, the "Comprehensive 1099 Taxpayer Protection and Repayment of
Exchange Subsidy Overpayments Act of 2011," which repeals the expansion
in the Affordable Care Act of requirements for businesses to report informa-
tion to the Internal Revenue Service on payments for goods of $600 or more
annually to other businesses.
"Today, I was pleased to take another step to relieve unnecessary burdens
on small businesses by signing H.R. 4 into law," President Obama said in
a statement.
"Small business owners are the engine of our economy and because
Democrats and Republicans worked together, we can ensure they spend
their time and resources creating jobs and growing their business, not fill-
ing out more paperwork," Obama said.
President Obama Signs Repeal of
Expanded 1099 Requirements
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