II
Calendar No. 8
118th CONGRESS
1st Session
S. 123
IN THE SENATE OF THE UNITED STATES
January 26, 2023
Mr. Scott of Florida (for himself, Mr. Budd, Mr. Braun, and Mr. Johnson) introduced the following bill; which was read the first time
January 30, 2023
Read the second time and placed on the calendar
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 funding provided to the Internal Revenue Service under section 10301 of Public Law 117–169.
Short title
This Act may be cited as the Blocking the Adverse and Dramatic Increased Reliance on Surveillance Activities Act
or the BAD IRS Activities Act
.
Repeal of modifications of exceptions for reporting of third party network transactions
In general
Section 6050W(e) of the Internal Revenue Code of 1986 is amended to read as follows:
Exception for de minimis payments by third party settlement organizations
A third party settlement organization shall be required to report any information under subsection (a) with respect to third party network transactions of any participating payee only if—
the amount which would otherwise be reported under subsection (a)(2) with respect to such transactions exceeds $20,000, and
the aggregate number of such transactions exceeds 200.
.
Effective date
The amendment made by this section shall apply to returns for calendar years beginning after December 31, 2021.
Rescission of certain funds for enhanced Internal Revenue Service resources
Effective on the date of enactment of this Act, the unobligated balances of the amounts made available under the following provisions of Public Law 117–169 are rescinded:
Internal Revenue Service enforcement funds
Section 10301(1)(A)(ii).
Internal Revenue Service operations support
Section 10301(1)(A)(iii).
January 30, 2023
Read the second time and placed on the calendar