During a press conference last week, President Obama conceded that new Form 1099 reporting requirements are “burdensome” and vowed to work on a legislative fix.

Enacted as part of the landmark Patient Protection and Affordable Care Act passed by Congress in March, the Form 1099 requirements force all businesses and tax-exempt organizations to issue a Form 1099 to vendors from whom they buy goods totaling $600 or more annually. This would result in associations having to issue hundreds of forms each year, track cumulative payments to vendors, and obtain tax identification information from each vendor.

Repealing the Form 1099 requirements has broad support from both sides of the aisle and MSAE has received support from all members of the Michigan Congressional delegation to make a change in these requirements. Rep. Fred Upton suggested that a 1099 repeal bill should be put to a vote early in the 112th Congress.