Senate Passes Repeal of PPACA Provision Requiring Submission of IRS Form 1099

April 6, 2011

Senate Passes Repeal of PPACA Provision Requiring Submission of IRS Form 1099

On Tuesday, April 5, 2011, the Senate passed H.R. 4, the "Comprehensive 1099 Taxpager Protection and Repayment Exchagne Subsidy Overpayments Act of 2011", which eliminates a provision of the Patient Protection and Affordable Care Act (PPACA) that requires businesses, including physician offices, to file IRS form 1099 for any payments totaling $600 or more in a year that are made to another business in exchange for goods and services.  Having already passed through the House, the legislation will now be sent to the White House for the President's signature into law.