§6050W. Returns relating to payments made in settlement of payment card and third party network transactions — Inbound Citations
26 U.S.C. § 6050W
Cited by 7 provisions in release 119-102.
Citations to 26 U.S.C. § 6050W as a whole
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(F) section 6050W (relating to returns relating to payments made in settlement of payment card transactions).
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(A) Any payment in settlement of a third party network transaction required to be shown on a return required under section 6050W which is made during any calendar year shall be treated as a reportable payment only if—(i) the aggregate number of transactions with respect to the participating payee during such calendar year exceeds the number of transactions specified in section 6050W(e)(2), and(ii) the aggregate amount of transactions with respect to the participating payee during such calendar year exceeds the dollar amount specified in section 6050W(e)(1) at the time of such payment.
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(xxiii) section 6050W (relating to returns to payments made in settlement of payment card transactions),
Citations to §6050W(e)(1)
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(ii) the aggregate amount of transactions with respect to the participating payee during such calendar year exceeds the dollar amount specified in section 6050W(e)(1) at the time of such payment.
Citations to §6050W(e)(2)
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(i) the aggregate number of transactions with respect to the participating payee during such calendar year exceeds the number of transactions specified in section 6050W(e)(2), and
Citations to §6050W(f)
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(FF) section 6050W(f) (relating to returns relating to payments made in settlement of payment card transactions),
Citations to §6050W(f)(2)
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(a) There shall be allowed as a deduction an amount equal to the qualified tips received during the taxable year that are included on statements furnished to the individual pursuant to section 6041(d)(3), 6041A(e)(3), 6050W(f)(2), or 6051(a)(18), or reported by the taxpayer on Form 4137 (or successor).