Bill Aims To Simplify 1099 Ks For Small Biz
The IRS’ new 1099-K form is seen by some as so burdensome for small businesses, two lawmakers are pushing for a new federal law to scale it back. The 1099-K Overreach Protection Act would prohibit the IRS from fully implementing the 1099-K form, the website TheStreet.com reports. Rep. Aaron Schock, R-Ill., introduced the bill in the House on Feb. 1; Sen. John Thune, R-S.D., is set to propose a similar bill in the Senate....