‘‘(f) STATEMENTS TO BE FURNISHED TO PERSONS 
WITH RESPECT TO WHOM INFORMATION IS REQUIRED.— 
Every person required to make a return under subsection 
(a) shall furnish to each person with respect to whom such 
a return is required a written statement showing— 
‘‘(1) the name, address, and phone number of the 
information contact of the person required to make 
such return, and 
‘‘(2) the gross amount of the reportable payment 
transactions with respect to the person required to be 
shown on the return. 
The written statement required under the preceding sen-
tence shall be furnished to the person on or before January 
31 of the year following the calendar year for which the 
return under subsection (a) was required to be made. Such 
statement may be furnished electronically. 
‘‘(g) REGULATIONS.—The Secretary may prescribe 
such regulations or other guidance as may be necessary or 
appropriate to carry out this section, including rules to pre-
vent the reporting of the same transaction more than once.’’. 
(b) PENALTY FOR FAILURE TO FILE.— 
(1) RETURN.—Subparagraph (B) of section 
6724(d)(1) is amended— 
(A) by striking ‘‘and’’ at the end of clause 
(xx), 
VerDate Aug 31 2005 
23:07 Jun 20, 2008
Jkt 069200
PO 00000
Frm 00033
Fmt 6652
Sfmt 6203
E:\BILLS\H6275.RH
H6275
pwalker on PROD1PC71 with BILLS
(B) by redesignating the clause (xix) that 
follows clause (xx) as clause (xxi), 
(C) by striking ‘‘and’’ at the end of clause 
(xxi), as redesignated by subparagraph (B) and 
inserting ‘‘or’’, and 
(D) by adding at the end the following: 
‘‘(xxii) section 6050W (relating to re-
turns to payments made in settlement of 
payment card transactions), and’’. 
(2) STATEMENT.—Paragraph (2) of section 
6724(d) is amended by inserting a comma at the end 
of subparagraph (BB), by striking the period at the 
end of the subparagraph (CC) and inserting ‘‘, or’’, 
and by inserting after subparagraph (CC) the fol-
lowing: 
‘‘(DD) section 6050W(c) (relating to returns 
relating to payments made in settlement of pay-
ment card transactions).’’. 
(c) APPLICATION OF BACKUP WITHHOLDING.—Para-
graph (3) of section 3406(b) is amended by striking ‘‘or’’ 
at the end of subparagraph (D), by striking the period at 
the end of subparagraph (E) and inserting ‘‘, or’’, and by 
adding at the end the following new subparagraph: 
VerDate Aug 31 2005 
23:07 Jun 20, 2008
Jkt 069200
PO 00000
Frm 00034
Fmt 6652
Sfmt 6203
E:\BILLS\H6275.RH
H6275
pwalker on PROD1PC71 with BILLS
‘‘(F) section 6050W (relating to returns re-
lating to payments made in settlement of pay-
ment card transactions).’’. 
(d) CLERICAL AMENDMENT.—The table of sections for 
subpart B of part III of subchapter A of chapter 61 is 
amended by inserting after the item relating to section 
6050V the following: 
‘‘Sec. 6050W. Returns relating to payments made in settlement of payment card 
and third party network transactions.’’. 
(e) EFFECTIVE DATE.— 
(1) IN GENERAL.—Except as otherwise provided 
in this subsection, the amendments made by this sec-
tion shall apply to returns for calendar years begin-
ning after December 31, 2010. 
(2) APPLICATION OF BACKUP WITHHOLDING.— 
(A) IN
GENERAL.—The amendment made 
by subsection (c) shall apply to amounts paid 
after December 31, 2011. 
(B) ELIGIBILITY FOR TIN MATCHING PRO-
GRAM.—Solely for purposes of carrying out any 
TIN matching program established by the Sec-
retary under section 3406(i) of the Internal Rev-
enue Code of 1986— 
(i) the amendments made this section 
shall be treated as taking effect on the date 
of the enactment of this Act, and 
VerDate Aug 31 2005 
23:07 Jun 20, 2008
Jkt 069200
PO 00000
Frm 00035
Fmt 6652
Sfmt 6203
E:\BILLS\H6275.RH
H6275
pwalker on PROD1PC71 with BILLS
(ii) each person responsible for setting 
the standards and mechanisms referred to 
in section 6050W(d)(2)(C) of such Code, as 
added by this section, for settling trans-
actions involving payment cards shall be 
treated in the same manner as a payment 
settlement entity. 
SEC. 205. APPLICATION OF CONTINUOUS LEVY TO PROP-
ERTY SOLD OR LEASED TO THE FEDERAL 
GOVERNMENT. 
(a) IN GENERAL.—Paragraph (3) of section 6331(h) 
is amended by striking ‘‘goods’’ and inserting ‘‘property’’. 
(b) EFFECTIVE DATE.—The amendment made by this 
section shall apply to levies approved after the date of the 
enactment of this Act. 
SEC. 206. TIME FOR PAYMENT OF CORPORATE ESTIMATED 
TAXES. 
(a) REPEAL OF ADJUSTMENT FOR 2012.—Subpara-
graph (B) of section 401(1) of the Tax Increase Prevention 
and Reconciliation Act of 2005 is amended by striking the 
percentage contained therein and inserting ‘‘100 percent’’. 
(b) MODIFICATION OF ADJUSTMENT FOR 2013.—The 
percentage under subparagraph (C) of section 401(1) of the 
Tax Increase Prevention and Reconciliation Act of 2005 in 
VerDate Aug 31 2005 
23:07 Jun 20, 2008
Jkt 069200
PO 00000
Frm 00036
Fmt 6652
Sfmt 6203
E:\BILLS\H6275.RH
H6275
pwalker on PROD1PC71 with BILLS
effect on the date of the enactment of this Act is increased 
by 59.5 percentage points. 
VerDate Aug 31 2005 
23:07 Jun 20, 2008
Jkt 069200
PO 00000
Frm 00037
Fmt 6652
Sfmt 6203
E:\BILLS\H6275.RH
H6275
pwalker on PROD1PC71 with BILLS
Union Calendar No. 463 
110TH CONGRESS 
2D SESSION 
H. R. 6275 
[Report No. 110–728] 
A BILL 
To amend the Internal Revenue Code of 1986 to 
provide individuals temporary relief from the al-
ternative minimum tax, and for other purposes. 
JUNE 20, 2008 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
VerDate Aug 31 2005 
23:07 Jun 20, 2008
Jkt 069200
PO 00000
Frm 00038
Fmt 6651
Sfmt 6651
E:\BILLS\H6275.RH
H6275
pwalker on PROD1PC71 with BILLS