The House Ways and Means Committee approved two separate pieces of legislation on Thursday to repeal the onerous 1099 reporting provisions enacted in 2010, with Republicans and Democrats sharply divided over how the bill would be paid.
The committee began markup work on the two bills earlier in the day (see House Panel Works on Repealing 1099 Requirements). H.R. 4, the “Small Business Paperwork Mandate Elimination Act of 2011,” repeals the new Form 1099 information reporting requirements that were imposed on small businesses to help pay for the health care law.
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