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The House Ways and Means Committee voted to advance a set of five tax-related bills, including one that would eliminate a twice-delayed requirement to report payments of at least $600 received through third-party networks like Venmo.
The Treasury Department and the Internal Revenue Service issued a Notice of Proposed Rulemaking on Friday to implement Section 139E of the Tax Code, created by the Tribal General Welfare Exclusion Act of 2014, excluding from gross income the value of any Tribal general welfare benefit.