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The resolution, H.R. 4, repealed the expanded 1099 reporting requirement found in the “Patient Protection and Affordable Care Act” that would have forced operators to track every business-to-business expenditure and would have made nearly every transaction in excess of $600 reportable to the Internal Revenue Service (IRS).
“This repeal of the 1099 reporting requirement is a prime example of an association fighting on behalf of the industry,” said Ed Lump, President and CEO of the Wisconsin Restaurant Association.
“Our industry is the nation’s second largest private-sector employer, but restaurants - large or small - really operate as small businesses or collections of independent operations,” said Scott DeFife, NRA’s Executive Vice President of Policy and Government Affairs. “[The] vote is a victory for thousands of restaurant operators and small business owners who do not have large administrative staffs to handle recordkeeping and reporting responsibilities. This action will help the industry continue to devote resources into job creation rather than the burdensome 1099 requirement that was enacted last year.”
The National Restaurant Association aggressively worked to repeal the 1099 provision, sending letters urging repeal to the Senate with the backing of 49 state restaurant associations, providing small business testimony about the overwhelming challenges of the provision, and rallying grassroots action to urge Congress to overturn the requirement.
On April 14, 2011, President Obama signed H.R. 4 into law.
“Small business owners are the engine of our economy and because Democrats and Republicans worked together, we can ensure they spend their time and resources creating jobs and growing their business, not filling out more paperwork,” stated President Obama.
For more information on the benefit of 3-in-1 membership included with your WRA membership, visit the WRA website. For questions on this bill, contact Pete Hanson or Ed Lump at 800-589-3211. |
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