H.R. 1882
119th CONGRESS 1st Session
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, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES · March 5, 2025 · Sponsor: Mrs. Miller of West Virginia · Committee: Committee on Ways and Means
Table of contents
- SEC. 1. Short title
- SEC. 2. Reinstatement of exception for de minimis payments as in effect prior to enactment of American Rescue Plan Act
- SEC. 3. Application of de minimis rule for third party network transactions to backup withholding
SEC. 1. Short title
This Act may be cited as the "Saving Gig Economy Taxpayers Act".
SEC. 2. Reinstatement of exception for de minimis payments as in effect prior to enactment of American Rescue Plan Act
(a) In general
of the Internal Revenue Code of 1986 is amended to read as follows: (Section 6050W(e))
(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. .