S 26 United States Senate · 118th Congress

SNOOP Act of 2023

This bill raises the reporting threshold for payment platforms like PayPal or Venmo. It requires these platforms to report transaction data only if a business receives over $20,000 in payments across more than 200 transactions in a year. This change directly affects payment processors and their business users by reducing the volume of transactions they must report to the IRS.

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2023

Committee Review

Floor Vote

President

Introduced Jan 23, 2023 Last action Jan 23, 2023

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

2

Key actions

0

Committee

1

Jan 23, 2023

Committee

Read twice and referred to the Committee on Finance.

upper

Jan 23, 2023

Introduced

Introduced in Senate

upper

1 primary · 33 co-sponsors

Sponsors

Role

Legislator

Party

State

District

Cynthia M. Lummis

Joe Manchin, III