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S. 1725 118th Congress Senate

Red Tape Reduction Act of 2023

Official title: A bill to amend the Internal Revenue Code of 1986 to modify the exception for de minimis payments by third party settlement organizations.

Introduced: May 18, 2023 See on congress.gov
Taxation
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 18, 2023
Read twice and referred to the Committee on Finance.
May 18, 2023
Introduced in Senate
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 Latest action May 18, 2023

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Red Tape Reduction Act of 2023

This bill modifies the reporting requirements for payments made in settlement of payment card and third party network transactions. Under current law, settlement organizations are not required to report information for transactions that do not exceed $600. This bill increases the reporting threshold so that settlement organizations are exempt from reporting requirements if the applicable transactions do not exceed $10,000, or there are no more that 50 such transactions.

 Related & companion bills 1
  • S 1761 Red Tape Reduction Act of 2023
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 2

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

 Cosponsors 1
All 1 Republican 1
R
Cassidy, Bill
Louisiana · May 18, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1725: Red Tape Reduction Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-S-1725/
MLA
"S. 1725: Red Tape Reduction Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-1725/.
Bluebook (legal)
S. 1725, 118th Cong. (2026), https://openamerica.io/bill/118-S-1725/.
Markdown link
[S. 1725: Red Tape Reduction Act of 2023](https://openamerica.io/bill/118-S-1725/)
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