Tag: Maryland Association of CPAs

Bill introduced to end paperwork ‘nightmare’ created by new health care law

A controversial new federal law that begins to take effect in January would create a “paperwork nightmare” for thousands of Maryland businesses by drastically increasing the number of 1099 tax forms they have to file, business groups and accountants say.

This provision was tucked into the comprehensive health care bill passed earlier this year by both houses of Congress — even though it has nothing to do with health care. Professional groups and trade associations are calling for its repeal. U.S. Sen. Max Baucus, a Montana Democrat who chairs the Senate Finance Committee, introduced a bill to get rid of it. Maryland Democrat Sen. Benjamin Cardin is one of the bill’s co-sponsors.

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