Erasing an added burden

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In our September/October 2010 issue, we told you that independent contractors must issue 1099 tax forms next year. Well, don’t sweat it.

We alerted readers that beginning in January 2012, a rule in the Affordable Care Act would require independent contractors—a group that includes many unemployed people—to file a 1099 form with Internal Revenue Service whenever a contractor made a purchase of $600 or more. However, in April, President Barack Obama signed a bill that repealed that provision.