Begich Joins Senate in Killing 1099 Provision
Begich priority to ease paperwork burden on small business
By a vote of 87-12, the U.S. Senate today voted to repeal the burdensome recordkeeping requirement for small businesses known as the “1099” provision. Sen. Mark Begich, a long-time critic of the measure, joined his colleagues in voting to repeal the 1099 requirement, ending a nearly yearlong debate about the issue.
“It has been several months coming, but Alaska’s small businesses and businesses across the country can breathe easier today, knowing the 1099 provision will be repealed,” Begich said. “As I’ve said many times, small business owners need to spend their time creating jobs and expanding, not filling out reams of paper required by the IRS.”
Begich first began working on repealing the measure last July, writing to the Internal Revenue Service asking the paperwork requirements be reduced; then in September sponsoring an amendment to repeal the item from the health legislation. He most recently supported repeal language included in the Federal Aviation Administration bill.
Without repeal, the 1099 provision in the health care law would require businesses to file IRS forms for every vendor they buy at least $600 in goods from each year starting in 2012. The House has already passed a 1099 repeal bill and President Obama has indicated he supports repeal.