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H.R. 5377 (115th): Creating An Online Platform For Instant 1099 Submissions Act

The text of the bill below is as of Mar 21, 2018 (Introduced).


I

115th CONGRESS

2d Session

H. R. 5377

IN THE HOUSE OF REPRESENTATIVES

March 21, 2018

(for himself, Mrs. Black, and Mr. Bishop of Michigan) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To require the Secretary of the Treasury to make available an internet platform to prepare and file Forms 1099, and for other purposes.

1.

Short title

This Act may be cited as the Creating An Online Platform For Instant 1099 Submissions Act.

2.

Internet platform for Form 1099 filings

(a)

In general

Not later than January 1, 2021, the Secretary of the Treasury or the Secretary’s delegate (hereafter referred to in this section as the Secretary) shall make available an Internet website or other electronic media, with a user interface and functionality similar to the Business Services Online Suite of Services provided by the Social Security Administration, that will provide taxpayers access to resources and guidance provided by the Internal Revenue Service and will allow taxpayers to—

(1)

prepare and file Forms 1099,

(2)

prepare Forms 1099 for distribution to recipients other than the Internal Revenue Service, and

(3)

create and maintain necessary taxpayer records.

(b)

Electronic services treated as supplemental; application of security standards

The Secretary shall ensure that the services described in subsection (a)—

(1)

are a supplement to, and not a replacement for, other services provided by the Internal Revenue Service to taxpayers, and

(2)

comply with applicable security standards developed by the National Institute of Standards and Technology.