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.
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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.
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.
Organizations Opposing H.R.3877
- None via MapLight at this time.
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