A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
As expected, online retail sales are tapering off as the biggest Web holiday buying spree comes to a close. According to PC Data Online, an Internet research firm, home online shoppers spent just under $900,000 for the week ending Dec. 19, a 25% decline from the holiday season's $1.2 billion peak a week earlier but still well above pre-holiday spending levels."Significant Internet buying activity continued throughout the week, but we saw modest declines in both the number of shoppers and how much they were spending," says Cameron Meierhoefer, Internet analyst for PC Data. "While shoppers were still buying toys in impressive quantities, they spend less than during previous weeks."For the third consecutive week, toys and music categories ranked high with more than 1.1 million estimated unique buyers each, while book sites came in third with more than 1 million unique buyers, reports PC Data."It will be interesting to watch whether we see a jump in online retail this week as online shoppers search for post-Christmas sales," Meierhoefer says. "Post holiday consumers look specifically for bargains and will look to see whether online retailers are ready to compete with their brick and mortar competitors."Christmas Not.