Following months of procedural and political back and forth, stand-alone legislation that would repeal the 1099 tax reporting requirement for businesses included in the Affordable Care Act (or the health care reform law) was signed by President Barack Obama on April 15. This reporting requirement would have required businesses to file a 1099 form with the Internal Revenue Service every time they spent more than $600 a year with another business - greatly increasing the burden on businesses.  

To offset the revenue losses by the repeal of this provision, the repeal legislation requires eligible individuals to repay the subsidies they are eligible for under the health care reform law if their income rises above 400% of the federal poverty level.  

Passage of the 1099 repeal legislation is considered a victory for business groups that have expressed opposition to the provision since the health care reform law's passage last year, but this also represents the first time the health care reform law has been successfully changed.

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