April 14, 2011
On April 14, President Obama signed a bill to exempt small businesses from burdensome 1099 tax reporting requirements. Before this bill passed, small businesses would have been required to issue a 1099 tax form to all vendors that were paid $600 or more during a year, creating hundreds of pages of new paperwork in each dental office. The American Dental Association partnered with other small business groups to pursue an exemption from this requirement. This exemption is great news for dentists!