House moves to repeal tax filing requirement - WAOW - Newsline 9, Wausau News, Weather, Sports

House moves to repeal tax filing requirement

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WASHINGTON (AP) -- The House is moving toward a vote to repeal an unpopular tax filing requirement for businesses that was part of the massive health care law enacted last year.

A provision tucked into the new law would require millions of businesses to file tax forms for every vendor that sells them more than $600 in goods each year, starting in 2012. The requirement is projected to raise nearly $25 billion over the next decade by ensuring that vendors pay their taxes. But lawmakers in both parties say it could create a paperwork nightmare for businesses.

The House is scheduled to vote to repeal the filing requirement Thursday. The Senate already has passed a similar bill, though Republicans and Democrats disagree on how to make up the potential lost revenue.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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