Senate Repeals 1099 Tax Reporting LawFebruary 04, 2011
The Senate voted 81-17 on Feb. 2 to repeal the new tax reporting requirement known as the IRA form 1099. The amendment was offered by Sen. Debbie Stabenow (D-MI) to the Federal Aviation Administration reauthorization bill.
The 1099 mandate included in the new healthcare law required governments, nonprofits, and businesses of all sizes across the nation to report IRS information on virtually all non-credit card purchases totaling $600 or more with any vendor in a tax year. By requiring an employer to issue a 1099 for every $600 payment or for any series of payments that accumulates to $600, the amount of paperwork and compliance will drastically increase. If this provision is implemented, the mandate will impose substantial burdens on the backs small businesses – especially farms and ranches.
The House must now act on the same language or a similar amendment before 2012. The Small Business Paperwork Mandate Elimination Act of 201, (HR 4) introduced by Rep. Dan Lungren (R-CA) to repeal form 1099 information reporting requirements now has 263 cosponsors. NMPF urges members of Congress to support this effort.
NMPF, along with 27 other agriculture groups, have sent several letters of support to Congress regarding the reality of the 1099 reporting, including letters to Senator Max Baucus and Senator Mike Johanns.
NMPF Celebrates 95th Anniversary Serving Dairy Producer CommunityFebruary 04, 2011
New Staff Member Bolsters NMPF’s Efforts on Capitol HillFebruary 04, 2011
NMPF Joins Alliance to Promote AgricultureFebruary 04, 2011
Dairy Groups Welcome U.S. Government’s First Step Towards Resolution on NAFTA Trucking DisputeFebruary 04, 2011
At the beginning of the new year, NMPF and the U.S. Dairy Export Council (USDEC) welcomed the Department of Transportation’s release of an “initial concept document” intended to allow for a long–haul, cross-border Mexican trucking program that prioritizes safety, while complying with the U.S. trade obligations to Mexico under the North American Free Trade Agreement (NAFTA). The concept document is aimed at rectifying a trade spat between the two countries that is hurting the U.S. dairy sector, among others.
Dairy Groups Urge Passage of Three FTAs to Grow Jobs in U.S.February 04, 2011
NMPF and the U.S. Dairy Export Council (USDEC) submitted comments to the House Committee on Ways and Means as part of a hearing held last month on the pending Free Trade Agreements (FTAs) with Colombia, Panama and South Korea. The focus of the hearing was to examine the job creating potential of the three trade agreements.
Obama Discusses Reforming the Regulatory ProcessFebruary 04, 2011
House Ag Committee Announces New Member RosterFebruary 04, 2011
USDA Releases 2010 Dietary Guidelines for AmericansFebruary 04, 2011
FDA Delays Testing Compliance Program for Milk ResiduesFebruary 04, 2011
CWT Export Assistance Beyond 2010February 04, 2011
Progress Continues on Foundation for the FutureFebruary 04, 2011