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On
April 5, 2011, Congress repealed two recent laws.
One of the laws, enacted with the 2010 Health Care Bill, increased 1099
reporting to include property purchases as well as service purchases. It
also required reporting payments to corporations as well as individuals.
The new bill is a complete repeal of the provision in the Health Care
bill. Although the additional 1099 reporting was not to begin until 2013,
for payments made after December 31, 2011.