The law › Title 26, Internal Revenue Code › Chapter 61

26 U.S.C. 6050W: Returns relating to payments made in settlement of payment card and third party network transactions

Created in 2008 by the Housing and Economic Recovery Act of 2008 (Public Law 110-289). Changed by 2 later laws. 1 new law this Congress changed it.

How it got hereLaws that created or changed it, newest first

2021American Rescue Plan Act of 2021

2018Bipartisan Budget Act of 2018

2008Housing and Economic Recovery Act of 2008created it

26 U.S.C. 6050WReturns relating to payments made in settlement of payment card and third party network transactions

(a)In generaladded to

(b)Payment settlement entity

(c)Reportable payment transaction

(d)Other definitions

(e)De minimis exception for third party settlement organizationsrewritten

(f)Statements to be furnished to persons with respect to whom information is requiredchanged

(g)Regulations

This CongressBills that change it or would

H.R. 1An act to provide for reconciliation pursuant to title II of H. Con. Res. 14.law

past change
enacted this Congress
proposed

This Congress

H.R. 1 An act to provide for reconciliation pursuant to title II of H. Con. Res. 14. · became law · changed (a), (e), (f)

How it got here

2021

Pub. L. 117–2, §9674(b), inserted "described in subsection (d)(3)(A)(iii)" after "any transaction". (American Rescue Plan Act of 2021) Law text · (c)
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. (American Rescue Plan Act of 2021) Law text · (e)

2018

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 enti… (Bipartisan Budget Act of 2018) Law text · (d)

Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.