1099 Reform Bill Passes
Senate Passes Form 1099 Reform Bill Championed By PPAI And Its Members
By: Staff PPB Magazine Issue: 2011Apr
The promotional products industry can take one step closer to a victory today, as a bill to repeal the Form 1099 information reporting expansion is on its way to President Obama’s desk for his signature into law. Anne Lardner-Stone, PPAI director of public affairs, says “Credit goes to all the many PPAI voices who advocated on behalf of the Form 1099 reform—those who knocked on doors and directly advocated for repeal with members of Congress.” The U.S. Senate passed the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayment Act by a vote of 87 to 12. The Senate version of the bill was unchanged from that passed earlier by the House of Representatives. It is now up to President Obama to sign the bill. Previously, the President has indicated that the expansion should be repealed and considering its broad popularity in both Congress and the business community, it would be very difficult for him to veto the bill.