arrow_back Back to App

Online Payment Reporting Changes: Higher Thresholds for Sellers

This act raises the reporting thresholds for payments received by online sellers, meaning fewer individuals will need to report their transactions to the tax authorities. These changes aim to reduce administrative burdens for small businesses and individuals operating online.
Key points
Reporting threshold for online transactions increased to over $10,000 OR more than 50 transactions annually.
Fewer small sellers and individuals earning online will need to report their income to the tax authorities.
Changes apply to transactions settled after December 31, 2024.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1425
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2025-04-10
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Red Tape Reduction Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_1425.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-04-10.

What are the main provisions?

Key points include:

  • Reporting threshold for online transactions increased to over $10,000 OR more than 50 transactions annually.
  • Fewer small sellers and individuals earning online will need to report their income to the tax authorities.
  • Changes apply to transactions settled after December 31, 2024.
What is the specific legal status?

The current status is Introduced.

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. Cassidy, Bill [R-LA].

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 2025-12-23.

CATEGORIES

Taxes Economy