Washington, D.C., April 15, 2011 - The National Association for the Self-Employed (NASE) is thrilled that President Obama has signed a repeal of the additional reporting requirement regarding Form 1099 passed under the Affordable Care Act. NASE Executive Director Kristie Arslan had these comments after the repeal became law:
"America's smallest businesses - the self-employed and micro-businesses - will benefit the most from this repeal," said Arslan. "For over a year, small business organizations like the NASE have joined forces to raise awareness about the extent of damage this law would have on Main Street shops. We are pleased to see that the President has officially removed the burden from business owners' backs so, come 2012, they won't have to worry about the crushing amount of paperwork the law would have demanded."
SBA Administrator Karen Mills remarked on this historic occasion:
"The SBA and President Obama supported repealing this provision, which would have required businesses to send 1099 forms for all purchases of goods and services over $600 annually. With this bipartisan effort, we have removed a requirement that would have been an undue barrier to small business growth."
About the NASE The National Association for the Self-Employed (NASE) is the nation's leading resource for the self-employed and micro-businesses, bringing a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy. The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association's Web site at www.NASE.org.
Our RSS feed service allows you to retrieve instant updates from the NASE website. est articles, news, and other helpful information, all delivered directly to you!
The only national organization that pro-actively helps you grow your business and your bottom line.
NASE.org is the official website of the National Association for the Self-Employed.
Courtesy of NASE.org https://www.nase.org/about-us/media-relations/PressReleases/2011/04/15/1099_Additional_Reporting_Law_Repealed_By_Pres_Obama