Just over a year after they became law, the expanded 1099 reporting requirements have been repealed.

On April 14, 2011 President Barack Obama signed H.R. 4 into law, which repealed the 1099 provisions originally passed in March 2010 as part of the Patient Protection and Affordable Care Act. The repeal means that businesses will not have to report payments to corporations or for property on form 1099.

• Ensure timely payments
• Manage paper invoices
• Implement best practices

The European payments landscape has changed considerably in the last decade.

Regulation has enabled many companies to collapse individual country structures and transact their pan European banking operations in an increasingly efficient and cost effective manner.

The Single Euro Payments Area (SEPA) comprises the 27 EU member states, as well as Iceland, Liechtenstein, Norway and Switzerland. Three key factors in the last decade have opened up the SEPA zone enabling companies to consolidate their payment related activities with fewer banks, bank accounts and associated bank systems.

Although checks continue to be the most common target for fraudsters, there is a new, more insidious scheme affecting organizations across the country. What makes this scheme so dangerous is that the victims are willing participants.

According to the 2011 AFP Payments Fraud and Control Survey, 14 percent of organizations that experienced fraud in 2010 were victimized by something called corporate account takeover.

Sales tax legislation recently passed in Illinois is the latest shot fired in the long-standing battle between state governments and online retailers.

Earlier this month, Illinois enacted the Main Street Fairness Act, which requires Internet-based retailers to collect sales tax from buyers in Illinois if the retailer has affiliate relationships with organizations in the state.

I originally started this particular blog entry back in January with little more than a title and some rough ideas. Unsurprisingly, it got bumped to the back of the bus thanks to a very busy first quarter and also helping to get the 2011 TAPN AP Leadership Conference ready for the curtain to go up April 11th!

In a recent TAPC News story, we described how the Senate take a major step towards repealing expanded 1099 reporting requirements. While lawmakers have made considerable headway in the past month, they have hit a roadblock.

On Feb. 18, the Senate passed a bill to continue funding the Federal Aviation Administration. While on the outside this seems like a routine bill, it included a provision that repealed the new 1099 reporting rules passed last year as part of the Patient Protection and Affordable Care Act.

While experts and vendors sing the praises of accounts payable automation, it's easy to forget that actually purchasing an imaging system, a new ERP system, or any other piece of technology can be a significant cost investment. As a result, organizations must fully evaluate the costs and benefits before moving forward.

Several months ago, one of the most sweeping financial reforms in U.S. history became law. While the law promised new protections and incentives to encourage whistleblowers to step forward, these provisions have failed to materialize.

The Dodd-Frank act was passed in response to the financial crisis of the late 2000s. Although the primary intent was to strengthen the banking system and increase transparency on Wall Street, the law also created a Whistleblower Office at the Securities and Exchange Commission.

Recent Senate actions indicate that the 1099 reporting changes many organizations are feverishly working to prepare for may never come.

According to an article published by BNA Software, the Senate on Feb. 2 adopted an amendment to an aviation bill that would repeal the expanded 1099 reporting requirements passed with the health care bill. The Senate, however, has not yet voted on the bill.