New law repeals expansion of Form 1099 reporting rules
On April 14, 2011, President Obama signed legislation - the Comprehensive 1099 Taxpayer Protection and Replacement of Exchange Subsidy Overpayments Act of 2011 - repealing expanded reporting rules for businesses and landlords that had been created by laws passed in 2010.
The Form 1099 reporting rules were changed by the 2010 health care legislation.
