House moves to repeal tax filing requirement

[March 03, 2011]  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. [Associated Press; By STEPHEN OHLEMACHER] Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.