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S 123 118th Congress Senate Taxation

BAD IRS Activities Act

Introduced: January 26, 2023 Introduced by: Scott, Rick Republican · Florida See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 30, 2023
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 8.
Jan 26, 2023
Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Jan 26, 2023
Introduced in Senate
 Plain-English summary Congressional Research Service

Blocking the Adverse and Dramatic Increased Reliance on Surveillance Activities Act or the BAD IRS Activities 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 more than $20,000 on more than 200 separate transactions in an applicable tax period. 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.

This reverses a provision in the American Rescue Plan Act of 2021 that lowered the reporting threshold to $600 with no minimum on the number of transactions.

The bill rescinds unobligated funds for Internal Revenue Service enforcement activities and operations support.

What's happening now January 30, 2023

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 8.

 Cosponsors 2
All 2 Republican 2