Summary: H.R.705 — 112th Congress (2011-2012)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Reported to House with amendment(s) (02/22/2011)

Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 - Amends the Internal Revenue Code to: (1) repeal requirements for the reporting to the Internal Revenue Service (IRS) of payments of $600 or more to corporations that are not tax-exempt and of gross proceeds paid in consideration for any type of property, (2) repeal requirements for reporting payments made with respect to rental property which is not part of a trade or business, and (3) increase the limitation on recapture of excess advance payments of the tax credit for health insurance premiums.