Senate passes 1099 repeal bill

The U.S. Senate has just passed H.R. 4 which repeals the 1099 reporting provisions for businesses and for rental properties. The vote was 87-12.

Because the House has already passed this bill and the Senate made no modifications, it now goes to the President for his signature. Although the President has indicated that he opposes the “pay-for” provision that’s included in the bill, he has supported the repeal of the 1099 reporting requirements and is expected to sign the bill into law.