Restores a prior exception that limits when third‑party settlement organizations must file information reports for payees and narrows when payments settled through those networks count as reportable for backup withholding and related tax reporting. Under the changes, platforms need to report third‑party network transactions for a participating payee only if the payee’s receipts would exceed $10,000 or the payee has more than 50 transactions; for backup withholding and related Internal Revenue Code reporting, payments count only if the payee exceeds both the dollar and transaction thresholds in a calendar year (with an exception if the payee had reportable third‑party payments in the prior year). The rules take effect for transactions settled after Dec. 31, 2024 and for calendar years beginning after Dec. 31, 2024.