Sens. Joe Manchin (D-W.Va.) and Shelley Moore Capito (R-W.Va.) filed two different amendments to the omnibus spending bill Wednesday to delay a new tax reporting threshold from going into effect before the end of the year.
A provision of the 2021 Covid aid law set to take effect for the coming tax filing season would require e-commerce platforms to send a Form 1099-K to taxpayers with more than $600 in business transactions, as opposed to the previous $20,000 threshold.
Capito’s amendment would delay the change until the 2024 tax filing season, while Manchin’s would postpone it until the 2025 filing ...
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