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FOLLOW-UP: WHAT THE IFA HAS TO SAY ABOUT HOUSE PASSAGE OF BILL TO REPEAL

[ 0 ] Mar. 28, 2011 | SBO Editor

International Franchise Association president & CEO Steve Caldeira issued the following statement following the recent passage of H.R. 4, the Small Business Paperwork Mandate Elimination Act, to repeal the expanded 1099 reporting requirements included in the Patient Protection & Affordable Care Act (PPACA):

“The franchise industry applauds today’s vote to repeal this burdensome reporting requirement before it impacts franchise small businesses still struggling to recover from the economic downturn. IFA urges the Senate to move quickly to pass H.R. 4 and send the bill to the President’s desk for signature so that franchise businesses can focus on growing their businesses and creating new jobs.”

“The expanding 1099 reporting provision in PPACA would require franchise small businesses to report routine business‐to‐business transactions such as; but not limited to, supplies, advertising, services, furnishings and equipment, creating a tsunami of paperwork and burdensome recordkeeping for small business owners, said Caldeira. “IFA members have sent more than 1,500 emails to lawmakers explaining how the 1099 requirement would overwhelm their operations, as the paperwork filing burden associated with this provision will be too great for many franchise small businesses to comply and  could lead to inaccurate filings that may trigger audits and penalties.”

About the International Franchise Association
The International Franchise Association is the world’s oldest and largest organization representing franchising worldwide. Celebrating 50 years of excellence, education and advocacy, IFA protects, enhances and promotes franchising through government relations, public relations and educational programs. Through its awareness campaign highlighting the theme,Franchising: Building Local Businesses, One Opportunity at a Time, IFA promotes the nearly 18 million jobs and $2.1 trillion of economic activity generated by franchising. IFA members include franchise companies in over 90 different business format categories, individual franchisees and companies that support the industry in marketing, law and business development

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Category: Features