3.0.0 3840 2022-12-29T22:33:31Z 2022-12-29T22:33:31Z Senate S 2022-03-15 117 ssfi00 Finance Committee Senate Standing Referred to 2022-03-15T18:52:19Z Cut Red Tape For Online Sales Act 117 7079 HR 2022-03-15 Referred to the House Committee on Ways and Means. Related bill CRS 2022-03-15 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2022-03-15 Introduced in Senate IntroReferral 10000 9 Library of Congress H001076 Sen. Hassan, Margaret Wood [D-NH] Maggie Hassan D NH N S001191 Sen. Sinema, Kyrsten [D-AZ] Kyrsten Sinema D AZ 2022-03-15 True H000273 Sen. Hickenlooper, John W. [D-CO] John Hickenlooper D CO W. 2022-05-11 False C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. 2022-05-25 False P000145 Sen. Padilla, Alex [D-CA] Alex Padilla D CA 2022-11-17 False B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2022-11-17 False S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2022-11-17 False M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2022-11-30 False Taxation Taxation 00 2022-03-15 Introduced in Senate 2022-03-21T13:52:31Z Cut Red Tape For Online Sales Act

This bill modifies requirements for third party settlement organizations to eliminate their reporting requirement with respect to the transactions of their participating payees unless they have earned $5,000 or more. A third party settlement organization is the central organization that has the contractual obligation to make payments to participating payees (generally, a merchant or business) in a third party payment network.

The bill also requires entities that report income to to issue a plain-language description of the taxability of income reported on Form 1099-K.

]]> Cut Red Tape for Online Sales Act Display Title Cut Red Tape for Online Sales Act Short Title(s) as Introduced Cut Red Tape for Online Sales Act Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to increase the threshold for the de minimis exception for information reporting by third party settlement organizations. Introduced in Senate IS Introduced in Senate 2022-03-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s3840is/xml/BILLS-117s3840is.xml 2022-03-15 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.