Page:United States Statutes at Large Volume 97.djvu/404

 97 STAT. 372 PUBLIC LAW 98-67—AUG. 5, 1983 Ante, p. 370. 96 Stat. 601. 26 USC 6041 A. 96 Stat. 600. 26 USC 6045. then the payor shall deduct and withhold from such payment a tax equal to 20 percent of such payment. " (2) SUBPARAGRAPHS (C) AND (D) OP PARAGRAPH (i) APPLY ONLY TO INTEREST AND DIVIDEND PAYMENTS. —Subparagraphs (C) and (D) of paragraph (1) shall apply only to reportable interest or dividend payments. "(b) REPORTABLE PAYMENT, ETC. — -For purposes of this section- ed) REPORTABLE PAYMENT.—The term 'reportable payment' means— "(A) any reportable interest or dividend payment, and "(B) any other reportable payment. " (2) REPORTABLE INTEREST OR DIVIDEND PAYMENT.— "(A) IN GENERAL.— The term 'reportable interest or divi- dend payment' means any payment of a kind, and to a payee, required to be shown on a return required under— "(i) section 6049(a) (relating to payments of interest), "(ii) section 6042(a) (relating to payments of divi- dends), or "(iii) section 6044 (relating to payments of patronage dividends) but only to the extent such payment is in money. "(B) SPECIAL RULE FOR PATRONAGE DIVIDENDS.— For pur- poses of subparagraphs (C) and (D) of subsection (a)(1), the term 'reportable interest or dividend payment' shall not include any payment to which section 6044 (relating to patronage dividends) applies unless 50 percent or more of such payment is in money. "(3) OTHER REPORTABLE PAYMENT.— The term 'other reportable payment' means any payment of a kind, and to a payee, required to be shown on a return required under— "(A) section 6041 (relating to certain information at source), "(B) section 6041A(a) (relating to payments of remunera- tion for services), "(C) section 6045 (relating to returns of brokers), or "(D) section 6050A (relating to reporting requirements of certain fishing boat operators), but only to the extent such payment is in money and represents a share of the proceeds of the catch. "(4) WHETHER PAYMENT IS OF REPORTABLE KIND DETERMINED WITHOUT REGARD TO MINIMUM AMOUNT. —The determination of whether any payment is of a kind required to be shown on a return described in paragraph (2) or (3) shall be made without regard to any minimum amount which must be paid before a return is required. "(5) EXCEPTION FOR CERTAIN SMALL PAYMENTS.—TO the extent provided in regulations, the term 'reportable payment' shall not include any payment which— "(A) does not exceed $10, and "(B) if determined for a 1-year period, would not exceed $10. " (6) OTHER REPORTABLE PAYMENTS INCLUDE PAYMENTS DE- SCRIBED IN SECTION 6041(a) OR 6041(A)(a) ONLY WHERE AGGRE- GATE FOR CALENDAR YEAR IS $600 OR MORE. — Any payment of a kind required to be shown on a return required under section 6041(a) or 6041A(a) which is made during any calendar year shall be treated as a reportable payment only if—

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