Source: Farm Bureau
Provisions in the new health care law that require farms, ranches and other businesses to complete an Internal Revenue Service Form 1099 for any expenditure totaling more than $600 in a calendar year create an unnecessary and costly paperwork burden, according to the American Farm Bureau Federation.
Farm Bureau backs bills in the House and Senate, H.R. 5141, by Rep. Dan Lungren (R- Calif.) and S. 3578 by Sen. Mike Johanns (R-Neb.) that would repeal the Form 1099 reporting requirements. In addition, Farm Bureau filed comments with the IRS calling for repeal of the provisions that are set to take effect in 2012.Original news release