Congress repeals paperwork requirement for small businesses

AIA applauds the repeal of the provision that required small businesses to file paperwork every time they spent more than $600 with a single vendor.

04/05/2011


The American Institute of Architects (AIA) commended the 112th Congress for passing the 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011, which repeals the expensive and unneeded new Form 1099 paperwork requirement that was part of the health care reform bill last year.

The 1099 provision required small business owners to provide an account to the Internal Revenue Service (IRS) of previously unreported business transactions. For example, small business owners would have been required to submit a 1099 tax form with the IRS every time they spent more than $600 with a single vendor, resulting in a sizeable increase in paperwork and accounting costs.

The House of Representatives voted on March 2 to repeal the 1099 tax-reporting requirement. The Senate vote was 87-12 to send the House bill to President Obama’s desk for his signature.

“As one of the key legislative priorities of the AIA, we are heartened by Congress passing this legislation,” said AIA president Clark Manus. “Many of our members are small businesses who are only now emerging from the long economic downturn. In the current legislative environment, it’s refreshing to see Congress able to agree on something as fundamentally positive to small businesses as repealing this onerous requirement.”



No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
Each year, a panel of Control Engineering editors and industry expert judges select the System Integrator of the Year Award winners.
Control Engineering Leaders Under 40 identifies and gives recognition to young engineers who...
Learn more about methods used to ensure that the integration between the safety system and the process control...
Adding industrial toughness and reliability to Ethernet eGuide
Technological advances like multiple-in-multiple-out (MIMO) transmitting and receiving
Virtualization advice: 4 ways splitting servers can help manufacturing; Efficient motion controls; Fill the brain drain; Learn from the HART Plant of the Year
Two sides to process safety: Combining human and technical factors in your program; Preparing HMI graphics for migrations; Mechatronics and safety; Engineers' Choice Awards
Detecting security breaches: Forensic invenstigations depend on knowing your networks inside and out; Wireless workers; Opening robotic control; Product exclusive: Robust encoders
The Ask Control Engineering blog covers all aspects of automation, including motors, drives, sensors, motion control, machine control, and embedded systems.
Join this ongoing discussion of machine guarding topics, including solutions assessments, regulatory compliance, gap analysis...
News and comments from Control Engineering process industries editor, Peter Welander.
IMS Research, recently acquired by IHS Inc., is a leading independent supplier of market research and consultancy to the global electronics industry.
This is a blog from the trenches – written by engineers who are implementing and upgrading control systems every day across every industry.
Anthony Baker is a fictitious aggregation of experts from Callisto Integration, providing manufacturing consulting and systems integration.
Integrator Guide

Integrator Guide

Search the online Automation Integrator Guide
 

Create New Listing

Visit the System Integrators page to view past winners of Control Engineering's System Integrator of the Year Award and learn how to enter the competition. You will also find more information on system integrators and Control System Integrators Association.

Case Study Database

Case Study Database

Get more exposure for your case study by uploading it to the Control Engineering case study database, where end-users can identify relevant solutions and explore what the experts are doing to effectively implement a variety of technology and productivity related projects.

These case studies provide examples of how knowledgeable solution providers have used technology, processes and people to create effective and successful implementations in real-world situations. Case studies can be completed by filling out a simple online form where you can outline the project title, abstract, and full story in 1500 words or less; upload photos, videos and a logo.

Click here to visit the Case Study Database and upload your case study.