Good news came right at the end of the tax filing season.      On April 14, President Obama signed a law which repeals both the new expanded 1099 reporting requirements and also the 1099 reporting requirements imposed on taxpayers who receive rental income.     One of the controversial laws required that 1099s be issued to any payee for total payments of more than $600 in a calendar year.  The change would have been a recordkeeping nightmare to track payments to all types of business entities for both services and goods.   The other law that has been repealed was the requirement that anybody that received rental income would be considered in a trade or business and would fall under the same 1099 requirements as other business owners.   As a result of these repeals, the 1099 reporting requirements remain unchanged. "Any persons engaged in a trade or business" and making payments in the course of the trade or business of $600 or more to another person for services must report the recipient name, address and the amount to the IRS.  This reporting is done via the 1099 and 1096 Forms.  Increased penalties for information reporting on 1099 Forms remain unchanged.