Accountants and tax practitioners had a busy time this past year keeping up with all the changes in the profession. Here’s our annual list of the top stories in the past year that kept our readers coming to the site for the latest developments:
1. Senate Passes 1099 Repeal Amendment. The expanded 1099 information reporting requirement in the health care reform law attracted opposition far and wide among lawmakers in Washington. The main problem, as usual, was getting Democrats and Republicans to agree on a way to do something about it. An important step in that process came when the Senate passed the repeal as part of a reauthorization bill for the Federal Aviation Administration in February. Unfortunately, the FAA legislation ran into trouble too, and it took a few more tries before the repeal was actually signed into law in April (see President Signs 1099 Repeal into Law).
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