Saving Gig Economy Taxpayers Act

Bill: 118-hr-190
Sponsor: full_name: Rep. Miller, Carol D. [R-WV-1]
Introduced: 2023-01-09
Policy area: Taxation
Subjects: Small business

Tax administration and collection, taxpayers

Wages and earnings
Latest action: action_date: 2024-12-10
text: Placed on the Union Calendar, Calendar No. 696.

Summaries:
action_date: 2023-01-09
action_desc: Introduced in House
text: <p><strong>Saving Gig Economy Taxpayers Act</strong></p> <p>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 <em>third party settlement organization</em> 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. </p> <p>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.</p>

tv_txt: IB Union Calendar No. 696 118th CONGRESS 2d Session H. R. 190 [Report No. 118–857] IN THE HOUSE OF REPRESENTATIVES January 9, 2023 Mrs. Miller of West Virginia (for herself, Mr. Buchanan , Mr. Ferguson , Mr. Estes , Mr. Kelly of Pennsylvania , Mr. Arrington , Mr. Schweikert , Mr. Murphy , Mr. Kustoff , Mr. Smucker , Mr. Smith of Nebraska , Mr. Wenstrup , Mr. LaHood , and Mr. Hern ) introduced the following bill; which was referred to the Committee on Ways and Means December 10, 2024 Additional sponsors: Ms. Malliotakis , Ms. Van Duyne , Mr. Stewart , Ms. Tenney , Mr. Moore of Utah , Mr. Fitzpatrick , Mr. Steube , Mr. Feenstra , Mr. Moolenaar , Mr. Carey , Mrs. Fischbach , Mrs. Steel , Mr. Norman , Mr. Duncan , Mr. Perry , Mr. McClintock , Mr. Santos , Mr. Finstad , Mr. Valadao , Mr. Cline , Mrs. Miller-Meeks , Ms. Lee of Florida , Mrs. Bice , Mr. Williams of New York , Mrs. Harshbarger , Mr. Moran , Mr. Ezell , Mr. Yakym , Mr. Biggs , Mrs. Cammack , Mr. Mooney , Mr. LaLota , Mr. Calvert , Mr. Gallagher , and Mr. Posey December 10, 2024 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on January 9, 2023 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.

1. Short title This Act may be cited as the Saving Gig Economy Taxpayers Act . 2. Reinstatement of exception for de minimis payments as in effect prior to enactment of American Rescue Plan Act (a) In general Section 6050W(e) of the Internal Revenue Code of 1986 is amended to read as follows: (e) Exception for de minimis payments by third party settlement organizations A third party settlement organization shall be required to report any information under subsection (a) with respect to third party network transactions of any participating payee only if— (1) the amount which would otherwise be reported under subsection (a)(2) with respect to such transactions exceeds $20,000, and (2) the aggregate number of such transactions exceeds 200. . (b) Effective date The amendment made by this section shall apply to returns for calendar years beginning after December 31, 2021.

December 10, 2024 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

tv_txt: I 118th CONGRESS 1st Session H. R. 190 IN THE HOUSE OF REPRESENTATIVES January 9, 2023 Mrs. Miller of West Virginia (for herself, Mr. Buchanan , Mr. Ferguson , Mr. Estes , Mr. Kelly of Pennsylvania , Mr. Arrington , Mr. Schweikert , Mr. Murphy , Mr. Kustoff , Mr. Smucker , Mr. Smith of Nebraska , Mr. Wenstrup , Mr. LaHood , and Mr. Hern ) 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.

1. Short title This Act may be cited as the Saving Gig Economy Taxpayers Act . 2. Reinstatement of exception for de minimis payments as in effect prior to enactment of American Rescue Plan Act (a) In general Section 6050W(e) of the Internal Revenue Code of 1986 is amended to read as follows: (e) Exception for de minimis payments by third party settlement organizations A third party settlement organization shall be required to report any information under subsection (a) with respect to third party network transactions of any participating payee only if— (1) the amount which would otherwise be reported under subsection (a)(2) with respect to such transactions exceeds $20,000, and (2) the aggregate number of such transactions exceeds 200. . (b) Effective date The amendment made by this section shall take effect as if included in section 9674 of the American Rescue Plan Act.