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Cut Red Tape For Online Sales Act
H.R. 3530, 118th Congress
- Status
- In committee
- Introduced
- 05/18/2023
- Cosponsors
- 19
- Latest action
- 05/18/2023
About this bill
- Official title
- Cut Red Tape For Online Sales Act
- Sponsor
- Chris Pappas (D-NH)
- Introduced in
- House
- Policy area
- Taxation
- Committees
- Ways and Means Committee
- Latest action
- Referred to the House Committee on Ways and Means.
Summary
Congressional Research Service, Introduced in House (05/18/2023)
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.
Actions
Newest first
- 05/18/2023 · House
Referred to the House Committee on Ways and Means.
- 05/18/2023
Introduced in House
Source: U.S. Government Publishing Office, GovInfo Bill Status; Congressional Research Service summaries · Last updated 05/18/2023