H.R. 3530 · 118th Congress
Cut Red Tape For Online Sales Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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PappasSponsor19 cosponsors · 19 D
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Kildee
HC
D
Cuellar
SD
D
DelBene
RK
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Krishnamoorthi
TL
D
Lieu
JN
D
Neguse
DR
D
Ross
BS
D
Schneider
ES
D
Swalwell
LS
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Sánchez
JT
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Tokuda
SC
D
Cohen
AC
D
Craig
JG
D
Gottheimer
PR
D
Ryan
MS
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Strickland
TS
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Sewell
RL
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Larsen
AK
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Kuster1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · May 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Cut Red Tape For Online Sales Act
Latest action (May 18, 2023): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 18, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.