S 898 118th Congress Senate Taxation

Merchant Category Code Neutrality Act

Introduced: March 21, 2023 Introduced by: Thune, John Republican · South Dakota See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 21, 2023

Read twice and referred to the Committee on Finance. (text: CR S861-862)

Mar 21, 2023

Introduced in Senate

Plain-English summary Congressional Research Service

Merchant Category Code Neutrality Act

This bill prohibits the Internal Revenue Service from auditing a taxpayer based primarily on the Merchant Category Codes, or other similar codes, used to classify the goods or services provided by the taxpayer's business. The bill defines Merchant Category Code to mean classification codes assigned by payment card organizations to merchants or payees that accept their payment cards to classify the goods or services provided or furnished by a merchant or payee.

What's happening now March 21, 2023

Read twice and referred to the Committee on Finance. (text: CR S861-862)

Committees of jurisdiction 1