summary
Introduced
05/20/2021
05/20/2021
In Committee
05/20/2021
05/20/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
an Act. IN THE HOUSE OF REPRESENTATIVES MAY 20, 2021 Mrs. MILLER of West Virginia introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to reinstate the exception for de minimis payments by third party settlement organizations with respect to returns relating to payments made in settlement of payment card and third party network transactions, as in effect prior to the enactment of the American Rescue Plan Act.
AI Summary
This bill aims to reinstate the exception for de minimis payments by third-party settlement organizations (TPSOs) with respect to returns relating to payments made in settlement of payment card and third-party network transactions. Prior to the enactment of the American Rescue Plan Act, TPSOs were not required to report information under Section 6050W of the Internal Revenue Code if the amount to be reported did not exceed $20,000 and the aggregate number of transactions did not exceed 200. This bill proposes to restore this exception, which was removed by the American Rescue Plan Act.
Committee Categories
Budget and Finance
Sponsors (41)
Carol Miller (R)*,
Jodey Arrington (R),
Kevin Brady (R),
Vern Buchanan (R),
Ted Budd (R),
Neal Dunn (R),
Ron Estes (R),
Drew Ferguson (R),
Scott Franklin (R),
Paul Gosar (R),
Mark Green (R),
Diana Harshbarger (R),
Kevin Hern (R),
Ashley Hinson (R),
Mike Kelly (R),
David Kustoff (R),
Darin LaHood (R),
Debbie Lesko (R),
Nicole Malliotakis (R),
Cathy McMorris Rodgers (R),
Mariannette Miller-Meeks (R),
Greg Murphy (R),
Ralph Norman (R),
Jay Obernolte (R),
Burgess Owens (R),
Bill Posey (R),
Tom Rice (R),
David Schweikert (R),
Adrian Smith (R),
Jason Smith (R),
Lloyd Smucker (R),
Elise Stefanik (R),
Chris Stewart (R),
Claudia Tenney (R),
William Timmons (R),
David Valadao (R),
Beth Van Duyne (R),
Ann Wagner (R),
Jackie Walorski (R),
Randy Weber (R),
Brad Wenstrup (R),
Last Action
Referred to the House Committee on Ways and Means. (on 05/20/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/3425/all-info | 05/21/2021 |
| BillText | https://www.congress.gov/117/bills/hr3425/BILLS-117hr3425ih.pdf | 07/08/2021 |
| Bill | https://www.congress.gov/117/bills/hr3425/BILLS-117hr3425ih.pdf.pdf | 07/08/2021 |
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