,,ii  #aaith ,,congress  #ast ,session  
,s4 #acge  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,april #i1     
#bjbe,mr4 ,hagerty introduced the       
following bill2 which was read twice and
 referred to the ,committee on ,finance 
,a ,,bill  ,to amend the ,internal      
,revenue ,code of #aihf to reinstate the
 exception for de minimis payments by   
third party settlement organizations    
with respect to returns relating to     
payments made in settlement of payment  
card and third party network            
transactions1 as in effect prior to the 
enactment of the ,american ,rescue ,plan
 ,act1 and for other purposes4  #a4     
,short title ,this ,act may be cited as 
the ,stop the ,nosy ,obsession with     
,online ,payments ,act of #bjbe or the  
,,snoop ,act of #bjbe4  #b4             
,reinstatement of exception for de      
minimis payments as in effect prior to  
enactment of ,american ,rescue ,plan    
,act  7a7 ,in general ,section          
#fjej,w7e7 of the ,internal ,revenue    

,code of #aihf is amended to read as    
follows3  7e7 ,exception for de minimis 
payments by third party settlement      
organizations ,a third party settlement 
organization shall be required to report
 any information under subsection 7a7   
with respect to third party network     
transactions of any participating payee 
only if-- 7#a7 the amount which would   
otherwise be reported under subsection  
7a77#b7 with respect to such            
transactions exceeds #bj1jjj1 and  7#b7 
the aggregate number of such            
transactions exceeds #bjj4  4  7b7      
,effective date ,the amendment made by  
this section shall take effect as if    
included in section #ifgd7;a7 of the    
,american ,rescue ,plan ,act4  #c4      
,application of de minimis rule for     
third party network transactions to     
backup withholding  7a7 ,in general     
,section #cdjf7;b7 of the ,internal     
,revenue ,code of #aihf is amended by   
adding at the end the following new     
paragraph3  7#h7 ,other reportable      

payments include payments in settlement 
of third party network transactions only
 where aggregate transactions exceed    
reporting threshold for the calendar    
year  7,a7 ,in general ,any payment in  
settlement of a third party network     
transaction required to be shown on a   
return required under section #fjej,w   
which is made during any calendar year  
shall be treated as a reportable payment
 only if-- 7i7 the aggregate number of  
transactions with respect to the        
participating payee during such calendar
 year exceeds the number of transactions
 specified in section #fjej,w7e77#b71   
and  7ii7 the aggregate amount of       
transactions with respect to the        
participating payee during such calendar
 year exceeds the dollar amount         
specified in section #fjej,w7e77#a7 at  
the time of such payment4  7,b7         
,exception if third party network       
transactions made in prior year were    
reportable ,subparagraph 7,a7 shall not 
apply with respect to payments to any   

participating payee during any calendar 
year if one or more payments in         
settlement of third party network       
transactions made by the payor to the   
participating payee during the preceding
 calendar year were reportable payments4
  4  7b7 ,effective date ,the amendment 
made by this section shall apply to     
calendar years beginning after ,december
 #ca1 #bjbd4