The U.S. Senate today voted 87-12 to repeal a proposed 1099 tax-reporting measure that would have required small businesses to file 1099 forms with the Internal Revenue Service showing payments of $600 or more to vendors.
Last month the U.S. House of Representatives voted 314-112 to eliminate the 1099 mandate, which is currently part of the healthcare reform law.
The bill now goes to President Obama, who has not made it clear whether he will sign it, according to news reports.
