does not exceed $10,000 and the aggregate number of 
such transactions does not exceed 200. 
‘‘(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 aggregate amount of payments made 
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 Janu-
ary 31 of the year following the calendar year for which 
the return under subsection (a) was required to be made. 
‘‘(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 prevent 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— 
VerDate Aug 31 2005 
06:14 Jun 18, 2008
Jkt 069200
PO 00000
Frm 00033
Fmt 6652
Sfmt 6201
E:\BILLS\H6275.IH
H6275
jbell on PROD1PC69 with BILLS
(A) by striking ‘‘or’’ at the end of clause 
(xx), 
(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 striking ‘‘or’’ 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 re-
turns relating to payments made in settlement 
of payment card transactions).’’. 
(c) APPLICATION
OF
BACKUP
WITHHOLDING.— 
Paragraph (3) of section 3406(b) is amended by striking 
‘‘or’’ at the end of subparagraph (D), by striking the pe-
riod at the end of subparagraph (E) and inserting ‘‘, or’’, 
and by adding at the end the following new subparagraph: 
VerDate Aug 31 2005 
04:35 Jun 18, 2008
Jkt 069200
PO 00000
Frm 00034
Fmt 6652
Sfmt 6201
E:\BILLS\H6275.IH
H6275
jbell on PROD1PC69 with BILLS
‘‘(F) section 6050W (relating to returns 
relating 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 transactions.’’. 
(e) EFFECTIVE DATE.— 
(1) IN
GENERAL.—Except as otherwise pro-
vided in this subsection, the amendments made by 
this section shall apply to returns for calendar years 
beginning after December 31, 2010. 
(2) APPLICATION OF BACKUP WITHHOLDING.— 
The amendment made by subsection (c) shall apply 
to amounts paid after December 31, 2011. 
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. 
VerDate Aug 31 2005 
04:35 Jun 18, 2008
Jkt 069200
PO 00000
Frm 00035
Fmt 6652
Sfmt 6201
E:\BILLS\H6275.IH
H6275
jbell on PROD1PC69 with BILLS
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 Preven-
tion and Reconciliation Act of 2005 is amended by striking 
the percentage contained therein and inserting ‘‘100 per-
cent’’. 
(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 effect on the date of the enactment of this Act 
is increased by 59.5 percentage points. 
Æ 
VerDate Aug 31 2005 
04:35 Jun 18, 2008
Jkt 069200
PO 00000
Frm 00036
Fmt 6652
Sfmt 6301
E:\BILLS\H6275.IH
H6275
jbell on PROD1PC69 with BILLS