A Republican bill with 8 Republican cosponsors · See all 8 cosponsors
Last activity — Read twice and referred to the Committee on Finance.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill, titled the "Stop the Nosy Obsession with Online Payments Act of 2025," aims to amend the Internal Revenue Code of 1986. It seeks to reinstate a specific exception for de minimis payments made by third party settlement organizations. Specifically, it changes reporting requirements for transactions related to payment cards and third party networks. Under this bill, reporting would only be required if certain dollar and transaction count thresholds are met. The changes involve adjustments to both reporting requirements and backup withholding rules.
Yes· 3 of 6
- Scored +4
Does this make it easier to run a small business?
The bill eases the regulatory and tax reporting burden on small-scale digital entrepreneurs and service providers.
- Scored +4
Would business owners be better off under this?
It provides significant relief for small business owners and gig workers relying on third-party payment networks.
- Scored +3
Does this cut taxes for small businesses?
By increasing reporting thresholds, it reduces the administrative and compliance burden on small businesses and independent contractors using third-party networks.
The opposite
- Scored -2
Does this put more rules on large technology companies?
By reducing reporting requirements for third-party networks, the bill decreases the regulatory oversight of digital payment platforms.
- Scored -2
Does this give the federal government more power?
The bill reduces the federal government's oversight and reporting requirements for digital payment transactions.
- Scored -1
Does this make what the government does easier for the public to see?
Decreasing reporting requirements may result in less visibility into the volume of small-scale digital transactions.
Who it would affect, and how
Potential Positive Impacts for People
-
Reduced Reporting Requirements: According to Section 2(a), a third party settlement organization would only be required to report information if the aggregate amount exceeds $20,000 and the aggregate number of transactions exceeds 200. This reinstates a previous exception that existed prior to the American Rescue Plan Act.
-
Changes to Backup Withholding: Section 3(a) amends the rules for backup withholding so that payments in settlement of third party network transactions are only treated as reportable payments if they exceed specific aggregate thresholds for the calendar year.
Potential Negative Impacts for People
- No negative impacts or burdens are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Economy And Finance
- Does this make it easier to run a small business? — The bill eases the regulatory and tax reporting burden on small-scale digital entrepreneurs and service providers. Does this cut taxes for small businesses? — By increasing reporting thresholds, it reduces the administrative and compliance burden on small businesses and independent contractors using third-party networks. Is this likely to grow the economy? — Reducing regulatory friction for digital payments may provide a minor boost to economic activity.
- Demographic And Interest Groups
- Would business owners be better off under this? — It provides significant relief for small business owners and gig workers relying on third-party payment networks. Would middle-income households be better off under this? — It may benefit middle-class gig workers by reducing potential tax-related administrative burdens.
- Education And Technology
- Does this put more rules on large technology companies? — By reducing reporting requirements for third-party networks, the bill decreases the regulatory oversight of digital payment platforms.
- Governance And Ideology
- Does this protect people from being watched or searched? — Reducing required data reporting to the IRS can be seen as a slight enhancement to transaction-related privacy. Does this give the federal government more power? — The bill reduces the federal government's oversight and reporting requirements for digital payment transactions. Does this make what the government does easier for the public to see? — Decreasing reporting requirements may result in less visibility into the volume of small-scale digital transactions.
- 7/21/2025
- 1 Cosponsor added.
- 7/10/2025
- 1 Cosponsor added.
- 6/25/2025
- 1 Cosponsor added.
- 6/18/2025
- 1 Cosponsor added.
- 6/11/2025
- 1 Cosponsor added.
- 6/10/2025
- 2 Cosponsors added.
- 6/2/2025
- 1 Cosponsor added.
- 4/9/2025
- Read twice and referred to the Committee on Finance.
- Introduced in Senate
2 bills Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Marsha BlackburnRepublican · Tennessee
John BarrassoRepublican · Wyoming
Jim BanksRepublican · Indiana
Chuck GrassleyRepublican · Iowa
John HoevenRepublican · North Dakota
Cindy Hyde-SmithRepublican · Mississippi
Pete RickettsRepublican · Nebraska
Tommy TubervilleRepublican · Alabama