Stop the Nosy Obsession with Online Payments Act of 2025 reinstates de minimis payment exceptions for third-party settlement organizations.
The Stop the Nosy Obsession with Online Payments Act of 2025, also known as the SNOOP Act of 2025, amends the Internal Revenue Code to reinstate the exception for de minimis payments by third-party settlement organizations. This change reverts the reporting requirements for payment card and third-party network transactions to their status prior to the American Rescue Plan Act. Specifically, it modifies the criteria for reporting such payments, requiring organizations to report only if the aggregate amount exceeds $20,000 and the number of transactions exceeds 200.
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