H.R. 705 · 112th Congress
Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011
- Stage
- Reported from committee
- Sponsor
- Dave Camp
- Introduced
- 2011-02-15
- Latest action
- 2011-02-22 · Reported (Amended) by the Committee on Ways and Means. H. Rept. 112-16.
Summary
Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 - Amends the Internal Revenue Code to: (1) repeal requirements for the reporting to the Internal Revenue Service (IRS) of payments of $600 or more to corporations that are not tax-exempt and of gross proceeds paid in consideration for any type of property, (2) repeal requirements for reporting payments made with respect to rental property which is not part of a trade or business, and (3) increase the limitation on recapture of excess advance payments of the tax credit for health insurance premiums.