II
Calendar No. 8
118THCONGRESS
1
STSESSION S. 123
To protect American small businesses, gig workers, and freelancers by repeal-
ing the burdensome American Rescue Plan Act of 2021 transactions
reporting threshold, and to rescind certain funding provided to the Inter-
nal Revenue Service under section 10301 of Public Law 117–169.
IN THE SENATE OF THE UNITED STATES
JANUARY26, 2023
Mr. S
COTTof Florida (for himself, Mr. BUDD, Mr. BRAUN, and Mr.
J
OHNSON) introduced the following bill; which was read the first time
J
ANUARY30, 2023
Read the second time and placed on the calendar
A BILL
To protect American small businesses, gig workers, and free-
lancers by repealing the burdensome American Rescue
Plan Act of 2021 transactions reporting threshold, and
to rescind certain funding provided to the Internal Rev-
enue Service under section 10301 of Public Law 117–
169.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
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•S 123 PCS
SECTION 1. SHORT TITLE. 1
This Act may be cited as the ‘‘Blocking the Adverse 2
and Dramatic Increased Reliance on Surveillance Activi-3
ties Act’’ or the ‘‘BAD IRS Activities Act’’. 4
SEC. 2. REPEAL OF MODIFICATIONS OF EXCEPTIONS FOR 5
REPORTING OF THIRD PARTY NETWORK 6
TRANSACTIONS. 7
(a) I
NGENERAL.—Section 6050W(e) of the Internal 8
Revenue Code of 1986 is amended to read as follows: 9
‘‘(e) E
XCEPTION FOR DEMINIMISPAYMENTS BY 10
T
HIRDPARTYSETTLEMENT ORGANIZATIONS.—A third 11
party settlement organization shall be required to report 12
any information under subsection (a) with respect to third 13
party network transactions of any participating payee only 14
if— 15
‘‘(1) the amount which would otherwise be re-16
ported under subsection (a)(2) with respect to such 17
transactions exceeds $20,000, and 18
‘‘(2) the aggregate number of such transactions 19
exceeds 200.’’. 20
(b) E
FFECTIVEDATE.—The amendment made by 21
this section shall apply to returns for calendar years begin-22
ning after December 31, 2021. 23
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•S 123 PCS
SEC. 3. RESCISSION OF CERTAIN FUNDS FOR ENHANCED 1
INTERNAL REVENUE SERVICE RESOURCES. 2
Effective on the date of enactment of this Act, the 3
unobligated balances of the amounts made available under 4
the following provisions of Public Law 117–169 are re-5
scinded: 6
(1) I
NTERNAL REVENUE SERVICE ENFORCE -7
MENT FUNDS.—Section 10301(1)(A)(ii). 8
(2) I
NTERNAL REVENUE SERVICE OPERATIONS 9
SUPPORT.—Section 10301(1)(A)(iii). 10
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kjohnson on DSK79L0C42PROD with BILLS Calendar No.
8
118
TH
CONGRESS
1
ST
S
ESSION
S. 123 A BILL
To protect American small businesses, gig workers,
and freelancers by repealing the burdensome
American Rescue Plan Act of 2021 transactions
reporting threshold, and to rescind certain fund-
ing provided to the Internal Revenue Service
under section 10301 of Public Law 117–169.
J
ANUARY
30, 2023
Read the second time and placed on the calendar
VerDate Sep 11 2014 22:48 Jan 30, 2023 Jkt 039200 PO 00000 Frm 00004 Fmt 6651 Sfmt 6651 E:\BILLS\S123.PCS S123
kjohnson on DSK79L0C42PROD with BILLS