Senate Bill 898 - Merchant Category Code Neutrality Act

Purpose and Summary

Chamber: Senate

Introduced date: 2023-03-21

Recent Activity

Read twice and referred to the Committee on Finance. (text: CR S861-862)

Alternative Names

Merchant Category Code Neutrality Act

Merchant Category Code Neutrality Act

A bill to amend the Internal Revenue Code of 1986 to prohibit audits based on Merchant Category Codes.

Associated Legislation

undefined

Policy Areas

Taxation

Potential Impact

Sponsors and Supporters

Sen. Thune, John [R-SD]

Cosponsors and Supporters

Sen. Blackburn, Marsha [R-TN]

Sen. Cassidy, Bill [R-LA]

Sen. Crapo, Mike [R-ID]

Sen. Daines, Steve [R-MT]

Sen. Lankford, James [R-OK]

Sen. Tillis, Thomas [R-NC]

Committees and Subcommittees

Finance Committee

Variations and Revisions

Merchant Category Code Neutrality Act

12/15/2023, 4:06 PM

Merchant Category Code Neutrality Act

This bill prohibits the Internal Revenue Service from auditing a taxpayer based primarily on the Merchant Category Codes, or other similar codes, used to classify the goods or servic...

Congress
118

Number
S - 898

Introduced on
2023-03-21

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

3/21/2023

Status of Legislation

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

Purpose and Summary

Merchant Category Code Neutrality Act

This bill prohibits the Internal Revenue Service from auditing a taxpayer based primarily on the Merchant Category Codes, or other similar codes, used to classify the goods or servic...

Alternative Names
Official Title as IntroducedA bill to amend the Internal Revenue Code of 1986 to prohibit audits based on Merchant Category Codes.

Policy Areas
Taxation

Comments

Recent Activity

Latest Summary4/10/2023

Merchant Category Code Neutrality Act

This bill prohibits the Internal Revenue Service from auditing a taxpayer based primarily on the Merchant Category Codes, or other similar codes, used to classify the goods or servic...


Latest Action3/21/2023
Read twice and referred to the Committee on Finance. (text: CR S861-862)