Apparently the new congress has heard the cries of the business world about the headache the former congress created with the 1099 law in the Health care bill. They are set to introduce a bill that will repeal this part of the bill. While it was done to raise revenues to pay for some of the health care legislation, this provision has become so unpopular on both sides of the aisle that it looks like it should pass. To that, I say thank goodness. What a waste of time and paper compliance with this law would have been.
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The IRS is having to reprogram it's computers because of the changes that Congress pushed through at the last minute. This means that for many filers (particularly itemizers), you can't file until mid to late February. There is no firm date yet, so we will wait and see when the IRS is ready to receive you return. This may cause some hardship for a few itemizers who were anticipating using their refund to ease cash flow early in 2011. They will be forced to wait until the IRS gives the green light to file.
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