Cut Red Tape For Online Sales Act
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Cut Red Tape For Online Sales Act
This bill modifies requirements for third party settlement organizations to eliminate their reporting requirement with respect to the transactions of their participating payees unless they have earned $5,000 or more. A third party settlement organization is the central organization that has the contractual obligation to make payments to participating payees (generally, a merchant or business) in a third party payment network.
The bill also requires entities that report income to to issue a plain-language description of the taxability of income reported on Form 1099-K.
Referred to the House Committee on Ways and Means.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 7079: Cut Red Tape For Online Sales Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-7079/
"H.R. 7079: Cut Red Tape For Online Sales Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-7079/.
H.R. 7079, 117th Cong. (2026), https://openamerica.io/bill/117-HR-7079/.
[H.R. 7079: Cut Red Tape For Online Sales Act](https://openamerica.io/bill/117-HR-7079/)