Victory for Small Businesses The Senate voted to repeal the expanded Form 1099 requirement, and the bill now goes to the President, who has stated his intent to sign the repeal into law.
Beginning in 2012, businesses would have been required to file 1099 forms for all payments of $600 or more for goods and services annually. The bill also repeals additional reporting requirements for rental properties. The Arizona Small Business Association (ASBA) has worked diligently to communicate with our Federal delegation the need to repeal these requirements since the law passed.
"This is an important victory for small business across Arizona and the nation,” said Donna Davis, Chief Executive Officer of ASBA. "Our elected officials heard our concerns and repealed this burdensome, unproductive reporting requirement. ASBA will continue to be diligent in protecting Arizona’s small business community from onerous and/or costly legislation and public policy. "
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