Sec. 41117. Treatment of foreign persons for returns relating to payments made in settlement of payment card and third party network transactions
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/bill/115/hr/1892/unknown/section-41117·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 6050W(d)(1)(B) is amended by adding at the end the following: Notwithstanding the preceding sentence, a person with only a foreign address shall not be treated as a participating payee with respect to any payment settlement entity solely because such person receives payments from such payment settlement entity in dollars. . The amendment made by this section shall apply to returns for calendar years beginning after December 31, 2017.