1545-BL34 201810 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 1545 Internal Revenue Service IRS 1500 Department of the Treasury TREAS Amendments of Information Reporting for Payments Made in Settlement of Payment Card and Third Party Network Transactions

The amended regulations are needed to incorporate the following Notices released under IRC section 6050(W): Notice 2011-42, Notice 2011-71, Notice 2011-78, and Notice 2011-42. The amendments will also clarify the definitions of third party network and aggregated payee, in order to provide more clarity to entities required to report. The goal of the amendments is to increase compliance with 6050(W).

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Long-Term Actions No No Other 26 CFR 1.6050(W)-1 26 CFR 34.3406(b)(3)-5 26 U.S.C. 7805 26 U.S.C. 6050(W)(g) No NPRM 12/00/2019 REG-110778-11 (NPRM) Drafter attorney: Casey Conrad (202) 317-5197 Reviewer attorney: Adrienne Griffin (202) 317-5155 Treasury attorney: Rochelle Hodes (202) 622-1787 CC:PA:Branch 1 No None No No No Casey Conrad Attorney 1545 Internal Revenue Service IRS 202 317-5154 casey.r.conrad@irscounsel.treas.gov 1111 Constitution Avenue NW., Room 5241, Washington DC 20224