Senate repeals 1099 reporting requirements
The U.S. Senate passed H.R. 4 on April 4, effectively repealing the expanded tax reporting requirements in the Patient Protection and Affordable Care Act. The law had stipulated that, starting in 2012, firms would be required to file a Form 1099 to all vendors they pay $600 or more for goods and services annually.
Construction associations and industry advocates viewed the provision as an onerous one for an industry already suffering significant job loss. “With an unemployment rate at 20 percent – more than twice the national average – delaying action on this measure will not help facilitate a speedy economic recovery,” said Associated Builders and Contractors National Chairman Michael J. Uremovich.
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- Follow these best practices for safe crushing operations246 Views
- 25 Days of RollOuts: Atlas Copco’s bucket crushers234 Views
- What to expect at the 2014 ConExpo-Con/Agg show225 Views
- Komatsu's WA1200-6 wheel loader offers more horsepower, lower costs170 Views
- Powerscreen Trakpactor 320SR to launch at ConExpo-Con/Agg154 Views