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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IRS CIRCULAR 230 DISCLOSURE REQUIREMENT: IRS Circular 230 requires us to notify you that any tax advice contained in this communication is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding tax penalties that may be imposed by law.
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