United States of America: President signed Budget reconciliation Bill 2025 (One Big Beautiful Bill Act/HR 1) including amendments to section 70432 restoring reporting thresholds for third party payment networks
Description
President signed Budget reconciliation Bill 2025 (One Big Beautiful Bill Act/HR 1) including amendments to section 70432 restoring reporting thresholds for third party payment networks
On 4 July 2025, the President signed the Budget Reconciliation Bill 2025/One Big Beautiful Bill Act. The Act repeals the revision to the de minimis rules for third-party network transactions enacted under section 9674 of the American Rescue Plan Act…
Scope
Policy Area
Taxation
Policy Instrument
Taxation, nes
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies), platform intermediary: e-commerce, platform intermediary: other
Implementation Level
national
Government Branch
executive
Government Body
central government
Complete timeline of this policy change
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2025-05-20
under deliberation
2025-07-01
under deliberation
2025-07-03
adopted