H.R.3877 - 1099K Overreach Prevention Act

To amend the Internal Revenue Code of 1986 to prohibit the Secretary of the Treasury from requiring that taxpayers reconcile amounts with respect to reportable payment transactions to amounts related to gross receipts and sales. view all titles (2)

All Bill Titles

  • Short: 1099K Overreach Prevention Act as introduced.
  • Official: To amend the Internal Revenue Code of 1986 to prohibit the Secretary of the Treasury from requiring that taxpayers reconcile amounts with respect to reportable payment transactions to amounts related to gross receipts and sales. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
01/31/12
 
 
 
 
 
 
 

Sponsor

Representative

Aaron Schock

R-IL

View Co-Sponsors (22)

Official Summary

2/1/2012--Introduced.1099K Overreach Prevention Act - Amends the Internal Revenue Code to exempt taxpayers who are required to report payments made in settlement of payment card and third party network transactions from any requirement to reconcile such payments to amounts related to gross

Official Summary

2/1/2012--Introduced.1099K Overreach Prevention Act - Amends the Internal Revenue Code to exempt taxpayers who are required to report payments made in settlement of payment card and third party network transactions from any requirement to reconcile such payments to amounts related to gross receipts or sales.

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Organizations Supporting H.R.3877

  • Retail Industry Leaders Association
  • National Small Business Association
  • National Grocers Association
  • National Association for the Self-Employed
  • National Federation of Independent Business
  • U. S. Chamber of Commerce
  • ...and 2 more. See all.

Organizations Opposing H.R.3877

  • None via MapLight at this time.


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