Tristan’s Landlord-Tenant Law Blog
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Tristan’s Landlord-Tenant Law Blog
Archive of: 1099's
Repeal of Expanded 1099 Requirements Signed Into Law
Posted by Tristan R. Pettit, Esq. in Legislation, 1099's / Comments
President Obama has officially signed H.R. 4, the “Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011” into law. This new law retroactively repeals prior 1099 reporting rules for landlords that were added by 2010 legislation (i.e. the Small Business Jobs Act of 2010 and the Patient Protection and Affordable Care Act -- better known as Obamacare).Prior to the 2010 legislation, it was generally required that if you were ...
Read MoreU.S. Senate Votes to Repeal New 1099 Reporting Requirements for Businesses and Landlords
Posted by Tristan R. Pettit, Esq. in Legislation, 1099's / Comments
The U.S. Senate has passed H.R. 4 which repeals the new 1099 reporting laws for businesses and rental property owners. The vote was 87-12. Since the House had already passed this bill -- and no modifications were made by the Senate -- the bill will now go to the President for his signature. While the President has indicated that he did not care for the "pay for" (offset) provisions that were included in ...
Read MoreU.S. Senate Repeals A Second New 1099 Reporting Law That Would Have Greatly Affected Landlords
Posted by Tristan R. Pettit, Esq. in Legislation, 1099's / Comments
About a week ago I blogged about a new federal law that will require landlords to issue 1099's to any individual or business that provides the landlord with more than $600 in services in any 12 month period. While this new law isn't going away anytime soon, another new federal 1099 reporting law has fortunately been repealed.Included in the new health care reform law known as the Patient Protection and Affordable ...
Read MoreNew 1099 Law Will Greatly Affect Landlords In 2011
Posted by Tristan R. Pettit, Esq. in Legislation, 1099's, Employee vs. Independent Contractor, Taxes / Comments
A new federal will greatly affect how landlords do business in 2011.In September 2010, a small provision affecting landlord was tucked into the Small Business Jobs Act of 2010, which has now become a subject of concern to many of us. Not only will this new law create a lot of additional paperwork for landlords, but it may open up Pandora’s Box should you be audited.The new law requires all ...
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