H. R. 190 is a proposed bill that aims to change the rules set by the American Rescue Plan Act regarding the reporting of payments by third-party settlement organizations, such as PayPal or Venmo. It reinstates previous exceptions for small, or "de minimis," payments. Under...
Simple Explanation
The bill wants to change the rules so that apps like PayPal and Venmo don't have to tell the government about little payments unless they total over $20,000 and more than 200 times a year, which might make it easier for some people to hide their money from taxes.