• Revenue Cycle Management
  • COVID-19
  • Reimbursement
  • Diabetes Awareness Month
  • Risk Management
  • Patient Retention
  • Staffing
  • Medical Economics® 100th Anniversary
  • Coding and documentation
  • Business of Endocrinology
  • Telehealth
  • Physicians Financial News
  • Cybersecurity
  • Cardiovascular Clinical Consult
  • Locum Tenens, brought to you by LocumLife®
  • Weight Management
  • Business of Women's Health
  • Practice Efficiency
  • Finance and Wealth
  • EHRs
  • Remote Patient Monitoring
  • Sponsored Webinars
  • Medical Technology
  • Billing and collections
  • Acute Pain Management
  • Exclusive Content
  • Value-based Care
  • Business of Pediatrics
  • Concierge Medicine 2.0 by Castle Connolly Private Health Partners
  • Practice Growth
  • Concierge Medicine
  • Business of Cardiology
  • Implementing the Topcon Ocular Telehealth Platform
  • Malpractice
  • Influenza
  • Sexual Health
  • Chronic Conditions
  • Technology
  • Legal and Policy
  • Money
  • Opinion
  • Vaccines
  • Practice Management
  • Patient Relations
  • Careers

Senate approves repeal of tax reporting provision

Article

The U.S. Senate passed an amendment to the healthcare reform legislation to repeal the requirement for small businesses, including physician practices, to file an IRS form 1099 for each vendor from whom they make purchases of $600 or more.

The U.S. Senate passed an amendment to the healthcare reform legislation to repeal the requirement for small businesses, including physician practices, to file an IRS form 1099 for each vendor from whom they make purchases of $600 or more. The House of Representatives had not voted on the amendment as of mid-February.

The American Medical Association applauded the Senate's vote. AMA President Cecil B. Wilson, MD, says it is estimated that paperwork already takes up as much as a third of a physician's workday, which is "time that could be better spent with patients," and that the requirement would have only increased that burden.

Related Videos