WASHINGTON – U.S. Senator Maggie Hassan announced today that her bill to cut tax paperwork for online sales was named a National Taxpayers Union “No Brainer” bill, an annual list of 10 “no brainer” pieces of legislation that bridge the partisan divide and demonstrate broad support for meaningful solutions to a variety of issues. Senator Hassan’s Cut Red Tape for Online Sales Act would raise the threshold for when online sellers receive 1099-K tax forms showing their online sales, helping ensure that casual sellers are not burdened with unnecessary paperwork or mistakenly pay more tax than they owe. Representative Chris Pappas introduced a companion bill in the House.
“Online marketplaces can help many Granite Staters get much-needed extra income from selling used goods or cleaning out their closets. Needless confusion caused by unnecessary tax forms risks burdening Granite Staters with undue taxes,” said Senator Hassan. “I’m pleased that my bill was honored as a commonsense piece of legislation, and I encourage my colleagues to join me in this effort to protect Americans from paying taxes that they don’t owe.”
"NTU is proud to highlight 1099-K reform efforts on its 12th annual No Brainers list of bipartisan legislation Congress should pass in 2022,” said Andrew Lautz, Director of Federal Policy at National Taxpayers Union. “NTU applauds Sen. Hassan, a repeat No Brainers winner, for her leadership on the Cut Red Tape For Online Sales Act. This bill would raise the 1099-K reporting threshold for taxpayers from $600 to $5,000 and provide relief to numerous middle-class taxpayers using third-party payment platforms. Reforming 1099-K and saving taxpayers a whole lot of hassle and paperwork is a No Brainer."
Senator Hassan has focused on fiscal responsibility and cutting waste, fraud, and abuse of taxpayer dollars in the federal government – working across the aisle to cut hundreds of billions in wasteful spending. As Chair of the Emerging Threats and Spending Oversight Subcommittee, she introduced bipartisan legislation to save taxpayer dollars and cut waste by eliminating duplicative government programs. She was named a “Fiscal Hero” by Fix the Debt, a project of the Committee for a Responsible Federal Budget, as well as the “Most Bipartisan Senator” by the nonpartisan Lugar Center.