Cut Red Tape For Online Sales Act
- Last Action
- 5/18/2023
Actions
- 2023-05-18Referred to the House Committee on Ways and Means.
- 2023-05-18Introduced in House
- 2023-05-18Introduced in House
CRS Summary
As of 2023-05-18 (00)
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.
Cosponsors (19)
- Daniel Kildee (D-MI)
- Henry Cuellar (D-TX)
- Raja Krishnamoorthi (D-IL)
- Suzan DelBene (D-WA)
- Eric Swalwell (D-CA)
- Ted Lieu (D-CA)
- Deborah Ross (D-NC)
- Joe Neguse (D-CO)
- Bradley Schneider (D-IL)
- Jill Tokuda (D-HI)
- Linda Sánchez (D-CA)
- Steve Cohen (D-TN)
- Angie Craig (D-MN)
- Marilyn Strickland (D-WA)
- Patrick Ryan (D-NY)
- Josh Gottheimer (D-NJ)
- Terri Sewell (D-AL)
- RICK LARSEN (D-WA)
- Ann Kuster (D-NH)
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.