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Senate approves repeal of tax reporting provision
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.
