Saving Gig Economy Taxpayers Act

Restores the old 1099‑K reporting rule for third‑party payment networks: a form is required only when a payee has more than $20,000 in payments and over 200 transactions in a calendar year. This rolls back the recent $600 threshold so casual sellers and people with small, infrequent sales are less likely to receive a 1099‑K.

Aligns backup withholding rules with the same thresholds and adds a carryover rule: if a payee was reportable last year, payments to them are treated as reportable for backup‑withholding purposes this year even before they cross the thresholds. This reduces surprise withholding while keeping reporting for higher‑volume sellers.