House Bill 3991 - Small Business Paperwork Savings Act

Purpose and Summary

Chamber: House

Introduced date: 2023-06-09

Recent Activity

Referred to the House Committee on Ways and Means.

Alternative Names

Small Business Paperwork Savings Act

Small Business Paperwork Savings Act

To amend the Internal Revenue Code of 1986 to increase the threshold for requiring information reporting with respect to certain payees.

Associated Legislation

American Confidence in Elections Act

Tax Relief for American Families and Workers Act of 2024

Policy Areas

Taxation

Potential Impact

Sponsors and Supporters

Rep. Schweikert, David [R-AZ-1]

Cosponsors and Supporters

Rep. Tenney, Claudia [R-NY-24]

Rep. Ferguson, A. Drew, IV [R-GA-3]

Rep. Van Duyne, Beth [R-TX-24]

Rep. Miller, Carol D. [R-WV-1]

Rep. Steube, W. Gregory [R-FL-17]

Rep. Smith, Adrian [R-NE-3]

Rep. Wenstrup, Brad R. [R-OH-2]

Rep. Gosar, Paul A. [R-AZ-9]

Rep. Huizenga, Bill [R-MI-4]

Rep. Smith, Christopher H. [R-NJ-4]

Committees and Subcommittees

Ways and Means Committee

Variations and Revisions

Small Business Paperwork Savings Act

1/24/2024, 3:15 PM

Small Business Paperwork Savings Act

This bill increases from $600 to $5,000 the threshold for reporting income for tax purposes.

Congress
118
Number
HR - 3991
Introduced on
2023-06-09
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

6/9/2023
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Small Business Paperwork Savings Act

This bill increases from $600 to $5,000 the threshold for reporting income for tax purposes.

Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to increase the threshold for requiring information reporting with respect to certain payees.
Policy Areas
Taxation

Comments

Recent Activity

Latest Summary10/13/2023

Small Business Paperwork Savings Act

This bill increases from $600 to $5,000 the threshold for reporting income for tax purposes.

Latest Action6/9/2023
Referred to the House Committee on Ways and Means.