Us Congress 2023-2024 Regular Session

Us Congress Senate Bill SB123 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	II
2	2	Calendar No. 8
3	3	118THCONGRESS
4	4	1
5	5	STSESSION S. 123
6	6	To protect American small businesses, gig workers, and freelancers by repeal-
7	7	ing the burdensome American Rescue Plan Act of 2021 transactions
8	8	reporting threshold, and to rescind certain funding provided to the Inter-
9	9	nal Revenue Service under section 10301 of Public Law 117–169.
10	10	IN THE SENATE OF THE UNITED STATES
11	11	JANUARY26, 2023
12	12	Mr. S
13	13	COTTof Florida (for himself, Mr. BUDD, Mr. BRAUN, and Mr.
14	14	J
15	15	OHNSON) introduced the following bill; which was read the first time
16	16	J
17	17	ANUARY30, 2023
18	18	Read the second time and placed on the calendar
19	19	A BILL
20	20	To protect American small businesses, gig workers, and free-
21	21	lancers by repealing the burdensome American Rescue
22	22	Plan Act of 2021 transactions reporting threshold, and
23	23	to rescind certain funding provided to the Internal Rev-
24	24	enue Service under section 10301 of Public Law 117–
25	25	169.
26	26	Be it enacted by the Senate and House of Representa-1
27	27	tives of the United States of America in Congress assembled, 2
28	28	VerDate Sep 11 2014 22:48 Jan 30, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S123.PCS S123
29	29	kjohnson on DSK79L0C42PROD with BILLS 2
30	30	•S 123 PCS
31	31	SECTION 1. SHORT TITLE. 1
32	32	This Act may be cited as the ‘‘Blocking the Adverse 2
33	33	and Dramatic Increased Reliance on Surveillance Activi-3
34	34	ties Act’’ or the ‘‘BAD IRS Activities Act’’. 4
35	35	SEC. 2. REPEAL OF MODIFICATIONS OF EXCEPTIONS FOR 5
36	36	REPORTING OF THIRD PARTY NETWORK 6
37	37	TRANSACTIONS. 7
38	38	(a) I
39	39	NGENERAL.—Section 6050W(e) of the Internal 8
40	40	Revenue Code of 1986 is amended to read as follows: 9
41	41	‘‘(e) E
42	42	XCEPTION FOR DEMINIMISPAYMENTS BY 10
43	43	T
44	44	HIRDPARTYSETTLEMENT ORGANIZATIONS.—A third 11
45	45	party settlement organization shall be required to report 12
46	46	any information under subsection (a) with respect to third 13
47	47	party network transactions of any participating payee only 14
48	48	if— 15
49	49	‘‘(1) the amount which would otherwise be re-16
50	50	ported under subsection (a)(2) with respect to such 17
51	51	transactions exceeds $20,000, and 18
52	52	‘‘(2) the aggregate number of such transactions 19
53	53	exceeds 200.’’. 20
54	54	(b) E
55	55	FFECTIVEDATE.—The amendment made by 21
56	56	this section shall apply to returns for calendar years begin-22
57	57	ning after December 31, 2021. 23
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60	60	•S 123 PCS
61	61	SEC. 3. RESCISSION OF CERTAIN FUNDS FOR ENHANCED 1
62	62	INTERNAL REVENUE SERVICE RESOURCES. 2
63	63	Effective on the date of enactment of this Act, the 3
64	64	unobligated balances of the amounts made available under 4
65	65	the following provisions of Public Law 117–169 are re-5
66	66	scinded: 6
67	67	(1) I
68	68	NTERNAL REVENUE SERVICE ENFORCE -7
69	69	MENT FUNDS.—Section 10301(1)(A)(ii). 8
70	70	(2) I
71	71	NTERNAL REVENUE SERVICE OPERATIONS 9
72	72	SUPPORT.—Section 10301(1)(A)(iii). 10
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75	75	8
76	76	118
77	77	TH
78	78	CONGRESS
79	79	1
80	80	ST
81	81	S
82	82	ESSION
83	83
84	84	S. 123 A BILL
85	85	To protect American small businesses, gig workers,
86	86	and freelancers by repealing the burdensome
87	87	American Rescue Plan Act of 2021 transactions
88	88	reporting threshold, and to rescind certain fund-
89	89	ing provided to the Internal Revenue Service
90	90	under section 10301 of Public Law 117–169.
91	91	J
92	92	ANUARY
93	93	30, 2023
94	94	Read the second time and placed on the calendar
95	95	VerDate Sep 11 2014 22:48 Jan 30, 2023 Jkt 039200 PO 00000 Frm 00004 Fmt 6651 Sfmt 6651 E:\BILLS\S123.PCS S123
96	96	kjohnson on DSK79L0C42PROD with BILLS