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Online Payment Reporting Changes: Higher Thresholds for Sellers

This bill aims to raise the thresholds at which payment platforms must report transactions to the tax authorities. This means fewer small sellers and online earners will need to worry about automatic income reporting, potentially simplifying tax compliance for many citizens.
Key points
Raises the online payment reporting threshold to over $20,000 OR over 200 transactions per year.
Reduces administrative burden for individuals selling goods or services online on a smaller scale.
Changes apply to calendar years beginning after December 31, 2021.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_S_3546
Sponsor: Sen. Hagerty, Bill [R-TN]
Process start date: 2022-02-01
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Summarized by: gemini-2.5-flash-preview-05-20
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_S_3546.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-02-01.

What are the main provisions?

Key points include:

  • Raises the online payment reporting threshold to over $20,000 OR over 200 transactions per year.
  • Reduces administrative burden for individuals selling goods or services online on a smaller scale.
  • 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 Sen. Hagerty, Bill [R-TN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes