Earlier this month, the US Congress voted to repeal certain new 1099 reporting requirements that had many smaller landlords in this country crying foul. In essence, expanded 1099 reporting requirements were to take place under the health care reform laws in an effort to raise underreported income. The net effect would have been to impose upon all taxpayers receiving rental income (i.e., all landlords) an obligation to issue a 1099 to the IRS and to any contractor who provided in excess of $600 of service to the taxpayer relative to the rental income. While this may not have been a burden for a commercial landlord, everyone with a two-family, vacation rental, or college student renting a spare bedroom had reason for concern. Elimination of this burdensome reporting requirement comes as some good news in an otherwise still rebounding segment of our economy.