1099 tax-reporting provision repealed
The Senate did, on Wednesday, approve an amendment to repeal the 1099 tax-reporting provision in the federal health reform law. The provision, set to start in 2012, required businesses, including physician offices, to file a Form 1099-MISC with the IRS to report payments made to other businesses for goods and services totaling more than $600 a year. The AMA has been lobbying against the 1099 requirement, arguing that compliance would be expensive and would negatively impact physicians' practices.
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