The Senate voted overwhelmingly, 87-12, Tuesday to repeal an unpopular reporting requirement in the new health care reform bill that small business owners had said would impose a tsunami of paperwork had it gone into effect in 2012. The paperwork mandate would have required all businesses to report to the IRS each time they made payments and purchases totaling more than $600 in a calendar year, regardless of what the money was used to buy.
More the reporting requirements here.
