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GOP Senator Calls for Rollback on New Form 1099 Requirements

Sen. Mike Johanns, R-Neb., on July 26 called on Congress to roll back an expansion of Form 1099 information reporting requirements included in the recent healthcare reform law... Johanns recently introduced S. 3578, the Small Business Paperwork Mandate Elimination Act, which would repeal the new Form...

Proposed Credit Card Exemption Doesn't Allay Business Anger Over Payment Reporting Law

Despite an IRS and Treasury proposal to exempt payment card purchases from newly expanded Form 1099 reporting requirements, the general business community is flooding the Service with comments and calling for repeal of the entire provision. The Patient Protection and Affordable Care Act ( P.L. 111-148...

Health Care Reform Intensifies Tax-Exempt Hospital Compliance Requirements

Editor's Note : The following is an excerpt from Tax Planning for Partners, Partnerships and LLCs § 15.03[3] (Matthew Bender). ... The Patient Protection and Affordable Care Act, P.L. 111-148 (March 23, 2010) enacted new IRC Section 501(r) , which provides specific requirements for hospitals...

Small Business Relief! Expanded 1099 Reporting Repealed

On April 14, 2011, President Obama signed into law the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 ( P.L. 112-9 ) which repeals the expanded Form 1099 reporting requirements for businesses that resulted from the enactment of the Patient Protection...

Potential Changes to "Orphan Drug" Exclusions Under the Patient Protection and Affordable Health Care Act

In July 2003, my father was diagnosed with renal cell carcinoma (kidney cancer). The disease would end his life in less than a year. Shortly after he died, news broke regarding a drug that was showing promise for advanced stage kidney cancer patients. The drug could extend life for an average of three...