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Online Payment Reporting Changes: Higher Thresholds for Sellers

This act aims to restore previous online transaction reporting rules, meaning payment platforms will only report accounts to the IRS that exceed $20,000 and 200 transactions annually. This reduces the tax burden for individuals selling goods or services online through smaller transactions.
Key points
Raises the reporting threshold for online transactions to $20,000 and 200 transactions per year.
Reduces administrative burden for individuals making small online sales.
Changes apply to calendar years beginning after December 31, 2021.
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Expired
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Additional Information
Print number: 117_HR_6913
Sponsor: Rep. Steel, Michelle [R-CA-48]
Process start date: 2022-03-03
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

SNOOP Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6913.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-03-03.

What are the main provisions?

Key points include:

  • Raises the reporting threshold for online transactions to $20,000 and 200 transactions per year.
  • Reduces administrative burden for individuals making small online sales.
  • Changes apply to calendar years beginning after December 31, 2021.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Steel, Michelle [R-CA-48].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Taxes Economy