SNOOP Act of 2023

Hozzl · 2025-06-10T18:50:08Z

Explore the details of House Bill 488 SNOOP Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

6/10/2025, 6:50 PM

Summary of Bill HR 488

The SNOOP Act of 2023, designated as H.R. 488 in the 118th Congress and introduced on January 24, 2023, aims to address privacy concerns related to online activities. Specific provisions and directives within the bill have not been detailed in the provided context, but it likely involves regulations or safeguards related to online data collection, surveillance, or privacy protection based on the bill's title. Further information can be accessed through the official PDF version of the bill available at the provided link.

Congressional Summary of HR 488

Stop the Nosy Obsession with Online Payments Act of 2023 or the SNOOP Act of 2023

This bill modifies requirements for third party settlement organizations to eliminate their reporting requirement with respect to the transactions of their participating payees unless they have earned more than $20,000 on more than 200 separate transactions in an applicable tax period. A third party settlement organization is the central organization that has the contractual obligation to make payments to participating payees (generally, a merchant or business) in a third party payment network.

This reverses a provision in the American Rescue Plan Act of 2021 that lowered the reporting threshold to $600 with no minimum on the number of transactions.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill HR 488

Bill HR 488 is currently in the status of Bill Introduced since January 24, 2023. Bill HR 488 was introduced during Congress 118 and was introduced to the House on January 24, 2023. Bill HR 488's most recent activity was Referred to the House Committee on Ways and Means. as of January 24, 2023

Bipartisan Support of Bill HR 488

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 488

Primary Policy Focus

Taxation

Potential Impact Areas

- Small business

- Tax administration and collection, taxpayers

- Wages and earnings

Alternate Title(s) of Bill HR 488

SNOOP Act of 2023

Stop the Nosy Obsession with Online Payments Act of 2023

To amend the Internal Revenue Code of 1986 to repeal the amendments made to reporting of third party network transactions by the American Rescue Plan Act of 2021.