NRA Urges Congress To Eliminate New 1099 Mandate

Whether or not you like checking off boxes and crunching numbers, more of it is likely heading your way. The long-debated small business aid bill passed in the Senate last week includes newly expanded 1099 tax-form reporting mandates, which the National Restaurant Association says creates a significant burden for restaurants and associated businesses. Beginning in 2012, the mandate expands the number of 1099 tax forms businesses must file, and requires businesses to file 1099 information-reporting forms with the IRS to indicate all purchases of goods and services of $600 or more in a year with a single vendor or company. Current rules require 1099s to be filed only for the purchase of services, and only when services are rendered by unincorporated businesses or contractors.

The NRA supported Republican-led efforts to repeal or scale back the mandates, and hopes to continue the debate. "It is clear that repealing the expanded 1099 rules has bipartisan support," said Scott DeFife, NRA’s exec. v.p. for policy and government affairs. "We urge policymakers to remain committed to repealing this far-reaching rule that would place a significant burden on restaurants and businesses across the country. 

"Tax paperwork and compliance are already major expenses for restaurants that operate on thin profit margins, and the expanded reporting requirement will greatly increase those costs," he added.

RELATED CONTENT

Untitled design 2022 07 13T114823.757

Patience Pays Off for a Reach-In Repair

RSI’s Mark Montgomery's persistence and patience is key in repairing an operator's failing reach-in cooler.

Henny Penny

Oil’s Sweet Spot: How to Get There and Maintain It

Like many in the world of foodservice, you may assume that cooking oil performance is at its peak when you first start using it — but did you know there...

- Advertisement -

- Advertisement -

- Advertisement -

TRENDING NOW

- Advertisement -

- Advertisement -

- Advertisement -