Feb 23

Call your favorite federal representative or senator and tell them to support the following:

On February 17, the House Ways and Means Committee approved H.R. 705, the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayment Act of 2011.

This bill will remove the requirements to give 1099 to suppliers of goods and to corporate service providers.  It also will remove the requirement for SMALL landlords to submit 1099’s

Also on February 17, the Senate voted to pass the FFA bill S 223 that also removes the 1099 requirements for suppliers of goods and to corporate service providers.

What are changes to  the 1099 rules and why they need to be changes?  Read my prior post here:

Much more paperwork for landlords in 2011

With or without changes the issue of having your contractors reclassified as statutory employees is a real risk:

Your handyman – cheap contractor or $60,000 mistake?

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