Bill · S. 1375· Senate(119-S-1375)
SNOOP Act of 2025
- Introduced
- 4/9/2025
- Last activity
- 4/9/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Bill Hagerty
- Cosponsors
- - 8 - 0
- 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
Does this make it easier to run a small business?+4
The bill eases the regulatory and tax reporting burden on small-scale digital entrepreneurs and service providers.
Would business owners be better off under this?+4
It provides significant relief for small business owners and gig workers relying on third-party payment networks.
Does this cut taxes for small businesses?+3
By increasing reporting thresholds, it reduces the administrative and compliance burden on small businesses and independent contractors using third-party networks.
The opposite
Does this put more rules on large technology companies?-2
By reducing reporting requirements for third-party networks, the bill decreases the regulatory oversight of digital payment platforms.
Does this give the federal government more power?-2
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?-1
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. Hover a score for the reason it gave.
- Economy And Finance
- Improves Small Business Support+4Reduces Small Business Taxes+3Improves Economic Growth+1
- Demographic And Interest Groups
- Good For Business Owners+4Good For Middle Class Households+1
- Education And Technology
- Increases Big Tech Regulation-2
- Governance And Ideology
- Improves Privacy Rights+1Increases Federal Power-2Improves Government Transparency-1
- 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