Tester Calls on IRS to Delay Implementation of Burdensome 1099-K Reporting Requirement
Senator: “The IRS should be focused on holding large corporations accountable, not on processing unnecessary, burdensome paperwork”
U.S. Senator Jon Tester today again called on the Internal Revenue Service (IRS) to delay implementation of its 1099-K reporting requirement that would unnecessarily burden individual Montana taxpayers using online payment platforms.
In his letter to IRS Commissioner Daniel Werfel, Tester emphasized that the burdensome reporting requirement would hurt Montanans: “If these burdensome requirements are allowed to take effect during the upcoming tax filing season, it will hurt folks in Montana and across the country.”
Tester stressed that the IRS should be focused on cracking down on big corporations, not imposing burdensome paperwork on Montanans: “The Government Accountability Office’s recent report on tax enforcement highlighted the burden that this change will have on taxpayers, and the challenge that it will pose for the Internal Revenue Service (IRS). The report estimates the number of 1099-Ks that the IRS receives will more than triple, but highlights that the agency does not have a plan to analyze that data. The IRS should be focused on holding large corporations accountable, not on processing unnecessary, burdensome paperwork for casual online sellers.”
Last December, Tester successfully pushed the IRS to delay implementation of its 1099-K reporting requirement. Tester has repeatedly fought to block the rule, which would mandate the reporting of payments over $600 on online payment platforms.
Tester’s full letter to the IRS can be read HERE.