Repeal of the 1099 Requirement for Landlords

In January of 2011 a new law was passed that required landlords to being reporting payments of $600 or more to another service provider in a year.  That has been repealed.  In April 2011, President Obama signed into law the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011.  This repeals the expanded reporting requirements for landlords in effect since January as well as the reporting requirements that were to be imposed on all businesses in 2012. 

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