Burdensome New 1099 Rule Has Been Repealed

President Obama has signed the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act, on April 14, 2011.  This repeal eliminates previous rules that would have made 1099 reporting a burdensome task.

While this is great news, it does not relieve us of the responsibility to still report payments of more than $600 in a calendar year to an unincorporated independent contractor for services rendered.

If you institution does not have a copy of InfoEd’s Form W-9 on file, please contact Michael Greenfield, Director of Finance, at mgreenfield@infoed.org .

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