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Commercial Card News Brought to You by the NAPCP: Industry Regulation

President Obama signed the 1099-related bill on 4/14/11

Friday, April 15, 2011   (0 Comments)

As expected, on April 14, 2011, President Obama signed the bill (H.R. 4) that repeals the 1099 provisions that were in the 2010 healthcare law and scheduled to go into effect for payments in 2012. This action basically reinstates the long-standing federal reporting exceptions of: 1) payments to corporations and 2) payments for merchandise.

For more information and background on this topic, refer to the previous NAPCP news item.

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