2025—Subsec. (a)(3). Pub. L. 119–21, § 70201(f)(3)(A), added par. (3).
Subsec. (e). Pub. L. 119–21, § 70432(a)(1), amended subsec. (e) generally. Prior to amendment, text read as follows: “A third party settlement organization shall not be required to report any information under subsection (a) with respect to third party network transactions of any participating payee if the amount which would otherwise be reported under subsection (a)(2) with respect to such transactions does not exceed $600.”
Subsec. (f)(2). Pub. L. 119–21, § 70201(f)(3)(B), inserted “(including a separate accounting of any such amounts that have been reasonably designated by payors as cash tips and the occupation described in section 224(d)(1) of the person receiving such tips)” after “reportable payment transactions”.
2021—Subsec. (c)(3). Pub. L. 117–2, § 9674(b), inserted “described in subsection (d)(3)(A)(iii)” after “any transaction”.
Subsec. (e). Pub. L. 117–2, § 9674(a), amended subsec. (e) generally. Prior to amendment, subsec. (e) related to an exception for de minimis payments by third party settlement organizations.
2018—Subsec. (d)(1)(B). Pub. L. 115–123 inserted at end “Notwithstanding the preceding sentence, a person with only a foreign address shall not be treated as a participating payee with respect to any payment settlement entity solely because such person receives payments from such payment settlement entity in dollars.”
Amendment by section 70201(f)(3) of Pub. L. 119–21 applicable to taxable years beginning after
Pub. L. 119–21, title VII, § 70432(a)(2),
Pub. L. 117–2, title IX, § 9674(c), “(1) The amendment made by subsection (a) [amending this section] shall apply to returns for calendar years beginning after “(2) The amendment made by subsection (b) [amending this section] shall apply to transactions after the date of the enactment of this Act [
Pub. L. 115–123, div. D, title II, § 41117(b),
Section applicable to returns for calendar years beginning after