Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 Public Law 112–9 Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 9 112–9 Statute Compilation United States House of Representatives Office of the Legislative Counsel text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. GPO Statute Compilations USLM converter, version 20210527.1 2021-10-15 Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 9609 112 2011-04-14 Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 [(Public Law 112–9)] [This law has not been amended] [Currency: This publication is a compilation of the text of Public Law 112-9. It was last amended by the public law listed in the As Amended Through note above and below at the bottom of each page of the pdf version and reflects current law through the date of the enactment of the public law listed at https://www.govinfo.gov/app/collection/comps/] [Note: While this publication does not represent an official version of any Federal statute, substantial efforts have been made to ensure the accuracy of its contents. The official version of Federal law is found in the United States Statutes at Large and in the United States Code. The legal effect to be given to the Statutes at Large and the United States Code is established by statute (1 U.S.C. 112, 204).]
AN ACTTo repeal the expansion of information reporting requirements for payments of $600 or more to corporations, and for other purposes.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE. This Act may be cited as the “Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011”.
SEC. 2. REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS TO PAYMENTS MADE TO CORPORATIONS AND TO PAYMENTS FOR PROPERTY AND OTHER GROSS PROCEEDS. (a) [26 U.S.C. 6041] Application to Corporations.—Section 6041 of the Internal Revenue Code of 1986 is amended by striking subsections (i) and (j). (b) Payments for Property and Other Gross Proceeds.—Subsection (a) of section 6041 of such Code is amended— (1) by striking “amounts in consideration for property,”, and (2) by striking “gross proceeds,” both places it appears. (c) [26 U.S.C. 6041 note] Effective Date.—The amendments made by this section shall apply to payments made after December 31, 2011.
SEC. 3. REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS FOR RENTAL PROPERTY EXPENSE PAYMENTS. (a) In General.—Section 6041 of the Internal Revenue Code of 1986 is amended by striking subsection (h). (b) [26 U.S.C. 6041 note] Effective Date.—The amendment made by this section shall apply to payments made after December 31, 2010.
SEC. 4. INCREASE IN AMOUNT OF OVERPAYMENT OF HEALTH CARE CREDIT WHICH IS SUBJECT TO RECAPTURE. (a) [26 U.S.C. 36B] In General.—Clause (i) of section 36B(f)(2)(B) of the Internal Revenue Code of 1986 is amended to read as follows: “(i) In general. In the case of a taxpayer whose household income is less than 400 percent of the poverty line for the size of the family involved for the taxable year, the amount of the increase under subparagraph (A) shall in no event exceed the applicable dollar amount determined in accordance with the following table (one-half of such amount in the case of a taxpayer whose tax is determined under section 1(c) for the taxable year): ``If the household income (expressed as a percent of poverty line) is:The applicable dollar amount is:Less than 200%$600At least 200% but less than 300%$1,500At least 300% but less than 400%$2,500.''. (b) [26 U.S.C. 36B note] Effective Date.—The amendment made by this section shall apply to taxable years ending after December 31, 2013.