A new business reporting headache is headed for a swift demise in Congress. Sen. Max Baucus (D-MT), the top Senate tax writer, has introduced a bill to repeal an expansion of the 1099 reporting rules to payments of more than $600 made to corporations.
Obama and lawmakers are getting an earful from irate businesses of all sizes, particularly smalls, over the paperwork burden created by measures which was tucked away in the health care law and slated to take effect in 2012.
Stay tuned!