S 5291
A bill to delay the implementation of the modifications of exceptions for reporting of third party network transactions.
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- Passed Senate
- Passed House
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Bill overview
This bill seeks to postpone the enforcement of changes made to how certain online transactions are reported to the IRS. Specifically, it delays the application of a rule that previously allowed for exceptions in reporting for smaller third-party network transactions. The bill extends the deadline for compliance with these reporting requirements, giving businesses and the IRS more time to adjust to the new rules. This delay is intended to provide more time for implementation and reduce potential compliance challenges.
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