It has been repealed, President Obama has signed the legislation to repeal the expansion of the 1099 reporting rules.
The law which scraps the requirement that businesses issue 1099s when paying $600 or more to corporations or for goods.
Also gone is the rule making owners of rental properties file 1099s on payments of $600 or more for goods and services. Businesses, landlords and lobbying firms complained that the increased reporting was a hassle, and lawmakers heard them.