### Question
How is the "third party network transaction" defined?


### Answer
The term **third party network transaction** is defined in *26 U.S.C. § 6050W* as follows -

> any transaction which is settled through a third party payment network

#### Citation:
  - *26 U.S.C. § 6050W*
  - Heading: **Subtitle F-Procedure and Administration > CHAPTER 61-INFORMATION AND RETURNS > Subchapter A-Returns and Records > PART III-INFORMATION RETURNS > Subpart B-Information Concerning Transactions With Other Persons**

