Tuesday, November 23, 2010
We previously blogged about concerns over Section 9006 of the Patient Protection and Affordable Care Act (the “Act”) and its application to nonprofits. The Act extends Form 1099 reporting requirements to payments representing the purchase price of goods bought from any vendor whose sales to the payor exceed $600 for the year. The Independent Sector reports that Senate Finance Committee Chairman Max Baucus and Senator Mike Johanns have each offered amendments to the FDA Food Safety Modernization Act (S. 510) that would repeal the expanded reporting requirements. The Senate could vote on the amendments as early as November 29.
The Independent Sector’s website lists other legislative proposals to alter the new reporting requirement. For the Independent Sector’s position on the new law as it applies to nonprofits, see this comment letter.