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Senate Manages to Stay Out of Its Own Way, Passes 1099 Repeal

Posted on by Caleb Newquist

Now that the repeal has passed, where will all the energy spent on pandering to small businesses go?

Bowing to pressure from business groups worried about an avalanche of paperwork, the U.S. Senate voted on Tuesday to rescind a tax-reporting requirement included in last year’s healthcare overhaul law.

With bipartisan support, the Senate voted 87-12 to pass legislation sponsored by Republican Senator Mike Johanns that repeals a requirement for businesses and landlords to file a Form 1099 document with the Internal Revenue Service for purchases of goods and services exceeding $600 a year.

President Obama is expected to sign the bill at which point GOP leaders are expected to criticize him for something.

US Senate votes to repeal healthcare tax measure [Reuters]
Just a reminder: Oh, By the Way, There’s Still a New 1099 Reporting Requirement for 2012 in the Proposed Budget

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A Sign of Things to Come? Walgreen Outsourcing 150 Accounting Jobs

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As many as 150 accounting jobs could be eliminated at Walgreen Co.’s Deerfield headquarters within the next 10 months as the drugstore giant outsources the work.

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