Since the enactment of Patient Protection and Affordable Care Act of 2010 (PPACA), we have been following the proposed expansion of Form 1099-MISC reporting and anticipating its repeal. On April 5, 2011, the Senate overwhelmingly approved (by a vote of 87 to 12) the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 (H.R. 4) which was already passed by the House of Representatives.

With this action by the Senate, the bill will be sent to President Obama. The President signed the bill on April 14, 2011. Please see the attached memo for further information.

 

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