IFA members have sent more than 1,500 emails to lawmakers through Franchise Congress, 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.
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 now 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.
Posted by Matt Haller, IFA Director of Communications