TITLE 26. INTERNAL REVENUE CODE § 6050W. Returns relating to payments made in settlement of payment card and third party network transactions., 26 USCS § 6050W


(a) In general. Each payment settlement entity shall make a return for each calendar year setting forth—
(1) the name, address, and TIN of each participating payee to whom one or more payments in settlement of reportable payment transactions are made, and
(2) the gross amount of the reportable payment transactions with respect to each such participating payee.
Such return shall be made at such time and in such form and manner as the Secretary may require by regulations.
(b) Payment settlement entity. For purposes of this section—
(1) In general. The term “payment settlement entity” means—
(A) in the case of a payment card transaction, the merchant acquiring entity, and
(B) in the case of a third party network transaction, the third party settlement organization.
(2) Merchant acquiring entity. The term “merchant acquiring entity” means the bank or other organization which has the contractual obligation to make payment to participating payees in settlement of payment card transactions.
(3) Third party ...