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Repealing the 1099 Reporting Requirement: A Big Win for Small Business

by Karen Mills, SBA Administrator

  • Created: April 14, 2011, 4:34 pm
  • Updated: May 16, 2011, 4:37 pm
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14 comments

Today, President Obama signed a law that removes the expanded “1099” reporting requirement from the Affordable Care Act. This is a big win for small businesses.

The SBA and President Obama supported repealing this provision, which would have required businesses to send 1099 forms for all purchases of goods and services over $600 annually. With this bipartisan effort, we have removed a requirement that would have been an undue barrier to small business growth.

The many benefits of the health reform law for small businesses remain in place. These tools are already helping small business owners find more affordable and accessible coverage for themselves and their employees.

In particular, with tax day coming on Monday, don’t forget that many small business that provide health insurance are eligible for tax credits, thanks to the new law. You can learn more at this page on the IRS website.

About the Author

Karen Mills's Profile Picture
Karen Gordon Mills is the Administrator of the U.S. Small Business Administration. The SBA helps both Main Street and high-growth small businesses get access to capital, counseling, federal contracts, disaster assistance and more.
Tags: Official SBA News and Views, Open For Business

Comments

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This is going to help small businesses a lot.
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Havez | Window Shopper | 8/6/2012 - 4:28 pm

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sharri | Window Shopper | 7/12/2012 - 8:39 am

This was a large step forward for all small businesses.
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esimps | Window Shopper | 6/10/2012 - 6:01 pm

This is wonderful news and I'm so pleased to see this burden removed for all
small businesses. Keep up the good work guys.
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JordanWoll | Window Shopper | 5/7/2012 - 5:45 pm

I was on the seventh heaven when I heard of that news :) Finally that
reporting came to an end!
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