Taxation – Information Reporting Thresholds & Backup Withholding

Current understanding

To be populated as evidence accumulates.

Evidence log

• 2026-09-08 — Car Loan Interest Deduction: cross-connection with car-loan-interest-deduction: The final rule sets a $600 lender information-reporting threshold for car-loan interest, adding a new category to IRS information-reporting thresholds. (novelty: 3)
• 2025-04-10 — Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to “Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales”.: 2025 — Public Law 119-5 enacted, using the Congressional Review Act to nullify the IRS ‘Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales’ rule; noted here only for cross-reference, as the voided rule was a digital-asset broker reporting regime parallel to (not part of) the general business-payment information reporting threshold framework. (novelty: 3)
• 2025-03-12 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to “Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales”.: CRA joint resolution of disapproval would nullify the IRS ‘Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales’ rule — a digital-asset-specific broker reporting regime running parallel to (and noted here only for cross-reference against) the general business-payment information reporting threshold framework. (novelty: 2)
• 2025-05-29 — Federal Gift Shop Tax Act: HR3650 (Federal Gift Shop Tax Act) would authorize states, DC, and U.S. territories to impose sales tax on federal-property gift shop purchases — a state/territorial sales tax jurisdiction expansion noted only for cross-reference, as it does not modify federal business-payment information reporting thresholds or backup withholding rules. (novelty: 2)
• 2025-01-23 — A bill to amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States.: S199 (special IRC rules for taxation of certain Taiwan residents on U.S.-source income) is noted only for cross-reference; a Taiwan-resident preferential withholding/taxation regime would interact with Chapter 3 nonresident withholding and Form 1042-S reporting rather than the general business-payment information reporting thresholds or backup withholding rules covered here. (novelty: 2)
• 2025-02-13 — Susan Muffley Act of 2025: Susan Muffley Act of 2025 would require PBGC to restore full vested Delphi pension benefits with lump-sum back payments; noted only for cross-reference, as the associated retroactive lump-sum distributions could create Form 1099-R reporting events but the bill itself does not modify business-payment information reporting thresholds or backup withholding rules. (novelty: 2)
• 2026-07-10 — Revising Qualified Domestic Trust Regulations Under Section 2056A To Update Outdated References and Procedures: IRS/Treasury final regulations updating QDOT procedures under IRC §2056A are noted only for cross-reference; they modernize estate-tax administration for noncitizen-spouse trusts and do not modify business-payment information reporting thresholds or backup withholding rules. (novelty: 2)
• 2023-03-01 — Dollar-for-Dollar Deficit Reduction Act: Dollar-for-Dollar Deficit Reduction Act (debt-limit spending-offset proposal) noted only for cross-reference; it does not modify IRS/Treasury information reporting thresholds or backup withholding rules and sits outside the core scope of this page. (novelty: 2)
• 2026-03-24 — Dollar-for-Dollar Deficit Reduction Act: Dollar-for-Dollar Deficit Reduction Act would impose Treasury notification requirements tied to debt-limit legislation and enforce dollar-for-dollar spending offsets via congressional budget points of order — a fiscal procedural rule only tangentially related to IRS/Treasury information reporting (noted for cross-reference; does not modify reporting thresholds or backup withholding). (novelty: 2)
• 2025-03-05 — Stop Tax Penalties on American Hostages Act of 2025: HR1868 (Stop Tax Penalties on American Hostages Act of 2025) is a penalty-abatement proposal for hostages/wrongful detainees and is only tangentially related to the information reporting threshold regime; noted here for cross-reference to the broader IRS compliance/penalty framework. (novelty: 2)
• 2026-07-09 — Information Reporting and Transfer for Valuable Consideration Rules for Section 1035 Exchanges of Life Insurance and Certain Other Life Insurance Contract Transactions: IRS/Treasury finalized regulations on information reporting for Section 1035 life insurance exchanges, corporate reorganization policy acquisitions, and reportable death benefits — a life-insurance-specific reporting regime (Forms 1099-LS/1099-SB) that sits alongside the general business-payment reporting threshold framework. (novelty: 2)
• 2025-02-10 — Health Care Provider Shortage Minimization Act of 2025: HR1160 (Health Care Provider Shortage Minimization Act of 2025) would grant statutory independent-contractor status to qualified locum tenens physicians and advanced practitioners, shifting them from W-2 wage reporting to 1099-style information reporting and self-employment tax obligations. (novelty: 3) (novelty: 3)
• 2026-05-20 — Returns Relating to Sales or Exchanges of Certain Partnership Interests: IRS/Treasury finalized regulations modifying information reporting for sales or exchanges of partnership interests in entities holding inventory or unrealized receivables — a partnership-specific reporting regime parallel to the general business-payment threshold rules. (novelty: 2)
• 2025-02-06 — Natural Disaster Property Protection Act of 2025: HR1093 (Natural Disaster Property Protection Act of 2025) proposes raising the 1099 information-reporting threshold from $600 to $5,000 for payments related to natural disaster mitigation or repair of real property, a category-specific carve-out from the general business-payment reporting threshold. (novelty: 2)
• 2025-05-20 — Clinical Trial Modernization Act: 2025 — Clinical Trial Modernization Act (citation removed): Bill would exclude up to $2,000 of clinical trial compensation from federal income tax, which could interact with information reporting practices for participant stipends by placing small-dollar trial payments outside taxable income. (novelty: 3) (novelty: 3)
• 2025-04-07 — No Tax Breaks for Union Busting (NTBUB) Act: NTBUB Act introduction would add a new category of employer information reporting (anti-union expenditure disclosures) separate from the general business-payment reporting threshold regime, expanding the domain of tax information reporting obligations. (novelty: 2) (novelty: 2)
• 2026-07-02 — Increase in Threshold for Requiring Information Reporting With Respect to Certain Payees; Extension and Modification of Limitation on Wagering Losses; Hearing: IRS scheduled a public hearing on REG-113229-25 covering proposed increases to business-payment information reporting thresholds (and paired backup withholding amendments), signaling the rule is advancing through notice-and-comment. (novelty: 2)

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