CompTIA Commends House Vote to Overturn 1099 Requirement, Calls on House and Senate to Finalize Repeal

WASHINGTON--(BUSINESS WIRE)-- CompTIA commends the House on its vote to repeal the new 1099 reporting requirement which would impose an undue burden on small businesses. Starting in 2012, this provision would have required all businesses to file a Form 1099 when paying any business or individual $600 or more for goods or services in one year.

Now that both chambers of Congress have voted to strike down this provision (H.R. 4 in the House and S. 18 in the Senate), CompTIA urges a quick conference to move this legislation on to the President for final repeal.

The following statement can be attributed to Todd Thibodeaux, President and CEO of CompTIA.

“CompTIA commends Members of Congress from both sides of the aisle for voting overwhelmingly to repeal the 1099 reporting requirement. Given the strong opposition from small businesses, both the House and Senate recognized the undue burden this provision placed on these companies – stifling growth and creating mountains of red tape. Small businesses have been working towards repealing the measure for months, and although the finish line is near, they still need an extra shot of adrenaline in order to leave this provision in the dust.

“As the House and Senate reconcile their separate bills, the interests of small businesses must remain the number one priority. The economy is on the slow and steady path towards growth, and legislators must continue to support small businesses in order to maintain U.S. competitiveness and drive innovation.

“CompTIA urges the House and Senate to conference these bills as soon as possible in order to deliver a bill for the President's signature. Eliminating this costly and draconian measure will right a wrong that could hamper small businesses for years to come. Through our new online advocacy platform TechVoice, solution providers and channel partners across the country have expressed their concern that this provision would force businesses to divert precious time away from generating revenue, maintaining jobs and growing their companies. The reporting requirement is a threat to small businesses and could create obstacles that would impede growth instead of spurring business development.

“This vote by the House is another important step in the right direction to repealing the new 1099 rule. Repeal of this rule will allow small companies to get back to doing what they do best - running their businesses and generating jobs for our 21st century economy.”

About CompTIA

CompTIA is the voice of the world’s information technology (IT) industry. Its members are the companies at the forefront of innovation; and the professionals responsible for maximizing the benefits organizations receive from their investments in technology. CompTIA is dedicated to advancing industry growth through its educational programs, market research, networking events, professional certifications, and public policy advocacy. For more information, visit www.comptia.org or follow CompTIA on Twitter at http://www.twitter.com/comptia.

CompTIA’s Public Advocacy group focuses on a broad array of issues affecting the IT industry, with particular emphasis on representing the interests of small and mid-sized IT companies and entrepreneurs. Areas of focus include workforce education and training, tax matters, access to capital, health IT, export promotion, procurement, cybersecurity and smart technologies.

CONTACT:

CompTIA
Steven Ostrowski
Director, Corporate Communications
630-678-8468
sostrowski@comptia.org

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