Cut Red Tape For Online Sales Act

Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 18 May 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 18 May 2023

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 18 May 2023

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.