Sec. 70433. Increase in threshold for requiring information reporting with respect to certain payees
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Section 6041(a) is amended by striking $600 and inserting $2,000 . Section 6041 is amended by adding at the end the following new subsection: In the case of any calendar year after 2026, the dollar amount in subsection
(a)shall be increased by an amount equal to— such dollar amount, multiplied by the cost-of-living adjustment determined under section 1(f)(3) for such calendar year, determined by substituting calendar year 2025 for calendar year 2016 in subparagraph (A)(ii) thereof. If any increase under the preceding sentence is not a multiple of $100, such increase shall be rounded to the nearest multiple of $100. . Section 6041A(a)(2) is amended by striking is $600 or more and inserting equals or exceeds the dollar amount in effect for such calendar year under section 6041(a) . Section 3406(b)(6) is amended— by striking $600 in subparagraph
(A)and inserting the dollar amount in effect for such calendar year under section 6041(a) , and by striking in the heading and inserting only where aggregate for calendar year is $600 or more . only where in excess of threshold The heading of section 6041(a) is amended by striking and inserting of $600 or more . exceeding threshold Section 6041(a) is amended by striking taxable year and inserting calendar year . The amendments made by this section shall apply with respect to payments made after December 31, 2025.