Form 1099 Reporting Changes Repealed

April 23, 2011
By Michael Smith on April 23, 2011 12:01 PM |

iStock_000001958827XSmall.jpgLast November I wrote about a new law that expanded the requirement to issue Form 1099 to include reporting of payments made to corporations and to suppliers of goods. The law was set to go into effect for payments made in 2012. In January I wrote that Representative Dan Lungren (R. California) had introduced a bill to repeal the new requirement. On April 14, President Obama signed Congressman Lungren's bill into law, eliminating the expansion of the reporting requirements.