The Small Business Jobs Act of 2010 (aka SBJA) enacted by President Obama in September, 2010 and the 2010 Patient Protection and Affordable Care Act (health care reform aka PPACA) both contain new 1099 reporting requirements that affect landlords. These two laws expanded IRS Form 1099-MISC reporting requirements – the SBJA dealing with landlords and services / service providers and the PPACA dealing with landlords and goods.
President agrees to 1099 relief
Just a quick update to let everyone know that the President signed into law a repeal of the burdensome 1099-misc reporting requirements imposed by the Small Business Jobs Act and the Affordable Care Act. Basically, we are back to the starting point where we were before these laws were signed. This is good news for … Read more