The expanded Form 1099 information reporting requirement enacted last year as part of the 2010 Patient Protection and Affordable Care Act (aka the “Healthcare Reform Bill”) was repealed by Congress. Under prior law Form 1099 reporting generally did not apply to corporations nor the purchase of goods. The expanded requirement extended Form 1099 to any person in a trade or business making payments of $600 or more to one person. Congress had previously attempted on several occasions to repeal the expanded Form 1099 reporting requirements but to no avail. Despite past failed attempts, in early March the House of Representatives passed H.R. 4, the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011, which would repeal the expanded Form 1099 reporting requirement, scheduled to commence in 2012. The Senate passed H.R. 4 on April 5, 2011 by an 87-12 vote. Nine days later, President Obama signed the legislation into law. The cost of the repeal, estimated to be $24.7 billion, will be paid for by modifying the limitations on amounts required for repayment of advance premium assistance tax credits for health insurance.