To protect American small businesses, gig workers, and freelancers by repealing the burdensome American Rescue Plan Act of 2021 transactions reporting threshold, and to rescind certain funding provided to the Internal Revenue Service under section 10301 of Public Law 117–169.
About This Bill
Introduced
Latest Action · January 30, 2023
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 8.
Blocking the Adverse and Dramatic Increased Reliance on Surveillance Activities Act or the BAD IRS Activities 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 more than $20,000 on more than 200 separate transactions in an applicable tax period. 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.
This reverses a provision in the American Rescue Plan Act of 2021 that lowered the reporting threshold to $600 with no minimum on the number of transactions.
The bill rescinds unobligated funds for Internal Revenue Service enforcement activities and operations support.
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