They got it right!

1. President signs bill repealing 2012 1099 requirements
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Recent legislation repeals the requirement that businesses and rental property owners file Form 1099 if they paid more than $600 per annum to any single vendor for goods and services.

Note-most companies that would have been required to make this paperwork change already have other requirement in place that makes this requirement redudent. What you ask? Say you are a growing S corp and you seek bank financing for a loan based on growth. The company would want to show every penny it earned, not just the payments from customers over $600.