S 1425
Red Tape Reduction Act of 2025
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 9:05 AM
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Red Tape Reduction Act of 2025, modifies how the IRS handles payments processed by third-party settlement organizations. Specifically, it reinstates a previous rule that reduces reporting requirements for these organizations, limiting reporting to transactions exceeding $10,000 or 50 transactions. It also adjusts backup withholding rules to treat payments settled through these organizations as reportable only if the total transaction volume and amount exceed certain thresholds during a calendar year.
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