House repeals 1099 requirement for small business

Published online: Mar 07, 2011 News Boating Industry
Viewed 1105 time(s)

On March 3, the U.S. House of Representatives passed H.R. 4 to repeal the IRS requirement that small businesses must file Form 1099s to all vendors where the business made annual purchases over $600.

The requirement was included in the Health Care Reform Bill signed into law last March.
The Marine Retailers Association of America said in a release to members that H.R. 4 is a good bill that reduces IRS regulation of business, reduces the federal government's paperwork requirements and allows businesses to focus on growth.


"MRAA has led a campaign since the passage of the Health Care bill to repeal this new requirement that is detrimental to marine dealers and other small businesses in their creation of jobs. The additional paperwork created by this new requirement is nonproductive and inhibits job growth. We will now shift focus to the Senate to ensure H.R. 4 will get to the President as soon as possible for his approval," said MRAA Chairman Dave Foulkrod. 

You May Also Be Interested In...

April 15, 2015

Houseboat Travels To Puerto Rico For New Christian Bale Movie

A 1960s River Queen houseboat is making the exciting trip to Puerto Rico to take part in a 20th Century Fox film called "The Deep Blue Good-by," starring Christian Bale.
April 08, 2015

A Beautiful And Tragic Show Of Love

In a brave display of courage and love, 74-year-old Everett McGowin dove into the swift, cold waters of the Fraser River near Vancouver, Canada, in an effort to save his wife...
April 03, 2015

66 Days At Sea

After being lost at seafor 66 days, Louis Jordan has been rescued 200 miles off the coast of South Carolina.
April 01, 2015

California Fishing-License Purchases Are Dropping

If fishing is your game, you might want to take the luring call of California lakes with a grain of salt.
March 30, 2015

The Mini Bike Is Back!

The Downtube Mini Shimano Nexus 8SP Folding Bike has answered the call of demand and is back on the market!
Follow us on Facebook!   Follow us on Instagram!   Follow us on Pinterest!   Follow us on YouTube!