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<DIV>FYI</DIV>
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<DIV><FONT face="Footlight MT Light" color=#6147c5 size=4><STRONG><FONT face="Brush Script MT" size=6>Karen Park<BR></FONT></STRONG></FONT></DIV>
<DIV><FONT face="Footlight MT Light" color=#6147c5 size=4><STRONG>Oregon State Social Security Coordinator</STRONG></FONT></DIV>
<DIV><FONT face="Footlight MT Light" color=#6147c5 size=4><STRONG>Oregon PERS<BR>503 603-7633<BR>karen.park@state.or.us<BR><IMG alt="" hspace=0 src="cid:CTWCMWKOIJTA.IMAGE_8.GIF" align=baseline border=0><BR>SL2</STRONG></FONT></DIV>
<DIV><STRONG><FONT face="Footlight MT Light" color=#6147c5 size=4></FONT></STRONG> </DIV>
<DIV><FONT face="Footlight MT Light" color=#6147c5>Please note my office hours are Monday thru Thursday 6 am to 4:30 pm</FONT></DIV>
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<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><FONT size=2>CONFIDENTIALITY NOTE: All information in this email, including attachments, is approved solely for delivery to and authorized use by intended recipients. Use, dissemination, distribution, or reproduction of this message and/or any of its attachments by unintended recipients is not authorized and may be unlawful. If you are not an intended recipient of this message or an authorized assistant to an intended recipient, please notify the sender by replying to this message and then delete it from your system</FONT>. </P></FONT></DIV><BR><BR>>>> "Marshall KayDel D" <KayDel.Marshall@irs.gov> 4/20/2011 2:08 PM >>><BR></DIV>
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<P class=MsoNormal><FONT face=Arial size=2><SPAN style="FONT-SIZE: 11pt; FONT-FAMILY: Arial">FYI - IRS.gov posted info on the repeal of new 1099 requirements<o:p></o:p></SPAN></FONT></P>
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<P class=MsoNormal><FONT face=Arial size=2><SPAN style="FONT-SIZE: 11pt; FONT-FAMILY: Arial"><A href="http://www.irs.gov/govt/fslg/article/0,,id=238635,00.html">http://www.irs.gov/govt/fslg/article/0,,id=238635,00.html</A><o:p></o:p></SPAN></FONT></P>
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<H2>Repeal of Expanded Information Reporting Requirements</H2></TD></TR>
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<P>The Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 </P>
<P>eliminated new information reporting requirements that were created by previous legislation.</P>
<P>The Patient Protection and Affordable Care Act of 2010 expanded information reporting to include payments to </P>
<P>corporations, “amounts in consideration of property,” and “other gross proceeds” made in the course of a trade or </P>
<P>business (including operation of a governmental entity), beginning in 2012. The new law repeals these requirements. </P>
<P>You are not required to file Form 1099-MISC for these payments for any year.</P>
<P>Existing information reporting requirements remain in effect. Payments of $600 or more for nonemployee </P>
<P>compensation made in the course of a trade or business are generally required to be reported on </P>
<P>Form 1099-MISC. Certain payments to corporations are required to be reported. </P>
<P>See the <A href="http://www.irs.gov/pub/irs-pdf/i1099msc.pdf">Instructions for Form 1099-MISC</A> for more information.</P>
<P>The Small Business Jobs Act of 2010 provided that anyone receiving rental income from real estate would be </P>
<P>treated as receiving income from a trade or business of renting property; therefore, information return requirements </P>
<P>applicable to small businesses would be in effect. This provision also is repealed; you are not considered to be</P>
<P>in a trade or business solely because you receive rental income. See <A href="http://www.irs.gov/pub/irs-pdf/p527.pdf">Publication 527</A> for more information on </P>
<P>rental income and expenses.<BR></P></TD></TR></TBODY></TABLE>
<DIV><FONT face=Arial size=2><B><FONT face="Vladimir Script" color=navy size=5><SPAN style="FONT-WEIGHT: bold; FONT-SIZE: 18pt; COLOR: navy; FONT-FAMILY: 'Vladimir Script'">KayDel Marshall</SPAN></FONT></B> <BR><FONT face="Arial Black"><B><I><SPAN style="FONT-WEIGHT: bold; FONT-STYLE: italic; FONT-FAMILY: 'Lucida Sans Unicode'">Senior Stakeholder Liaison</SPAN></I></B><BR><STRONG><EM>Small Business & Self-Employed C/L/D</EM></STRONG><BR><B><I><SPAN style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: 'Lucida Sans Unicode'">100 S.W. Main Street, Suite 1200</SPAN></I></B><BR><B><I><SPAN style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: 'Lucida Sans Unicode'">Portland, Oregon 97204</SPAN></I></B><BR><B><I><SPAN style="FONT-WEIGHT: bold; FONT-STYLE: italic; FONT-FAMILY: 'Lucida Bright'">ID#1000843166 </SPAN></I></B><BR>503-415-7141/503-473-3694</FONT></DIV>
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<P align=left><I><FONT color=#ff0000><FONT color=#ff0000><FONT face="Arial Black">Got Tax Questions? Watch Videos & Get Answers on the IRS Video Portal </FONT></P></FONT></FONT>
<P></I><A href="http://www.irsvideos.gov/"><I><U><FONT color=#0000ff>http://www.irsvideos.gov/</I></U></FONT></A></P>
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