Tester Calls on IRS to Delay Implementation of Burdensome 1099-K Reporting Requirement

U.S. Senator Jon Tester today released the following statement calling on the Internal Revenue Service (IRS) to delay implementation of its 1099-K reporting requirement that unnecessarily burdens individual taxpayers using online payment platforms:

“I will always stand up to my own party when they are wrong. I have repeatedly raised concerns with the IRS’s new reporting requirement and voted against all of my Democratic colleagues in favor of blocking it going into effect. The IRS should be focused on holding millionaires and massive corporations accountable, not wasting time on unnecessary requirements that confuse hardworking individuals or small businesses. While we work on a more permanent solution to cut red tape for these folks, the IRS should delay the implementation of this burdensome rule.”