H.R.705 - Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011

To amend the Internal Revenue Code of 1986 to repeal the expansion of information reporting requirements to payments made to corporations, payments for property and other gross proceeds, and rental property expense payments, and for other purposes. view all titles (3)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to repeal the expansion of information reporting requirements to payments made to corporations, payments for property and other gross proceeds, and rental property expense payments, and for other purposes. as introduced.
  • Short: Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 as introduced.
  • Short: Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 as reported to house.

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Introduced
 
House
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Senate
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President
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02/15/11
 
 
 
 
 
 
 

Official Summary

Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 - Amends the Internal Revenue Code to: (1) repeal requirements for the reporting to the Internal Revenue Service (IRS) of payments of $600 or more to corporations that are not tax-exempt and of

Official Summary

Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 - Amends the Internal Revenue Code to:
(1) repeal requirements for the reporting to the Internal Revenue Service (IRS) of payments of $600 or more to corporations that are not tax-exempt and of gross proceeds paid in consideration for any type of property,
(2) repeal requirements for reporting payments made with respect to rental property which is not part of a trade or business, and
(3) increase the limitation on recapture of excess advance payments of the tax credit for health insurance premiums.

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Organizations Supporting H.R.705

  • National Federation of Independent Business
  • American Institute of Certified Public Accountants
  • Assisted Living Federation of America
  • American Physical Therapy Association
  • American Medical Association
  • The Free Community Paper Industry
  • ...and 7 more. See all.

Organizations Opposing H.R.705

  • None via MapLight at this time.




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