S 3777 · 111th Congress · Taxation

Information Reporting Modernization Act of 2010

Introduced 2010-09-14· Sponsored by Sen. Landrieu, Mary L. [D-LA]· Senate

Bill Progress

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Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(2010-09-14)

Plain Language Summary

[AI summary unavailable — showing source text] Information Reporting Modernization Act of 2010 - Amends the Internal Revenue Code to increase from $600 to $5,000 the threshold amount for reporting to the Internal Revenue Service (IRS) payments made to corporations. Adjusts such increased amount for inflation, beginning after 2012. Requires the Secretary of the Treasury, with respect to tax returns filed in calendar years after 2011, to: (1) upgrade IRS scanning technology to allow for the submission of generic 1099-MISC forms downloaded from the IRS website; and (2) establish a free online entry and submission mechanism.…

Summarized by Claude AI · Non-partisan · For informational purposes only