President Obama Signs 1099 Repeal Into Law

President Obama signed H.R. 4 into law, a bill supported by AGC that repeals the 1099 reporting requirement that would have required all businesses to submit Form 1099s to the IRS and to any business with which it purchased $600 or more in goods or services in a year, creating a tremendous paperwork and compliance burden for businesses of all sizes.  Read the statement from the White House here. For more information, contact Karen Lapsevic at (202) 547-4733 or lapsevick@agc.org.