Congress repeals paperwork requirement for small businesses

AIA applauds the repeal of the provision that required small businesses to file paperwork every time they spent more than $600 with a single vendor.

04/05/2011


The American Institute of Architects (AIA) commended the 112th Congress for passing the 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011, which repeals the expensive and unneeded new Form 1099 paperwork requirement that was part of the health care reform bill last year.

The 1099 provision required small business owners to provide an account to the Internal Revenue Service (IRS) of previously unreported business transactions. For example, small business owners would have been required to submit a 1099 tax form with the IRS every time they spent more than $600 with a single vendor, resulting in a sizeable increase in paperwork and accounting costs.

The House of Representatives voted on March 2 to repeal the 1099 tax-reporting requirement. The Senate vote was 87-12 to send the House bill to President Obama’s desk for his signature.

“As one of the key legislative priorities of the AIA, we are heartened by Congress passing this legislation,” said AIA president Clark Manus. “Many of our members are small businesses who are only now emerging from the long economic downturn. In the current legislative environment, it’s refreshing to see Congress able to agree on something as fundamentally positive to small businesses as repealing this onerous requirement.”



Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
2017 MEP Giants; Mergers and acquisitions report; ASHRAE 62.1; LEED v4 updates and tips; Understanding overcurrent protection
Integrating electrical and HVAC for energy efficiency; Mixed-use buildings; ASHRAE 90.4; Wireless fire alarms assessment and challenges
Integrated building networks, NFPA 99, recover waste heat, chilled water systems, Internet of Things, BAS controls
Transformers; Electrical system design; Selecting and sizing transformers; Grounded and ungrounded system design, Paralleling generator systems
Commissioning electrical systems; Designing emergency and standby generator systems; VFDs in high-performance buildings
Tying a microgrid to the smart grid; Paralleling generator systems; Previewing NEC 2017 changes
As brand protection manager for Eaton’s Electrical Sector, Tom Grace oversees counterfeit awareness...
Amara Rozgus is chief editor and content manager of Consulting-Specifier Engineer magazine.
IEEE power industry experts bring their combined experience in the electrical power industry...
Michael Heinsdorf, P.E., LEED AP, CDT is an Engineering Specification Writer at ARCOM MasterSpec.
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
2017 MEP Giants; Mergers and acquisitions report; ASHRAE 62.1; LEED v4 updates and tips; Understanding overcurrent protection
Integrating electrical and HVAC for energy efficiency; Mixed-use buildings; ASHRAE 90.4; Wireless fire alarms assessment and challenges
Integrated building networks, NFPA 99, recover waste heat, chilled water systems, Internet of Things, BAS controls
Transformers; Electrical system design; Selecting and sizing transformers; Grounded and ungrounded system design, Paralleling generator systems
Commissioning electrical systems; Designing emergency and standby generator systems; VFDs in high-performance buildings
Tying a microgrid to the smart grid; Paralleling generator systems; Previewing NEC 2017 changes
As brand protection manager for Eaton’s Electrical Sector, Tom Grace oversees counterfeit awareness...
Amara Rozgus is chief editor and content manager of Consulting-Specifier Engineer magazine.
IEEE power industry experts bring their combined experience in the electrical power industry...
Michael Heinsdorf, P.E., LEED AP, CDT is an Engineering Specification Writer at ARCOM MasterSpec.
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me