Politiparty
Politiparty

118th Congress Taxation

H.R. 3530: Cut Red Tape For Online Sales Act

Introduced

  1. Introduced (completed)May 18, 2023
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, May 18, 2023

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.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

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Amendments

0 offered

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Cosponsors

19

Who scored on this bill

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Other bills by Chris Pappas

History

  1. May 18, 2023Introduced in the House by Chris Pappas.
Show the full action history (2 actions)
  1. May 18, 2023Introduced in House
  2. May 18, 2023Referred to the House Committee on Ways and Means.