IRS Reform: Limiting Audits, Protecting Donor Privacy, and Reducing Improper Payments.
This legislation introduces significant changes to the Internal Revenue Service (IRS) operations, focusing on taxpayer privacy and limiting enforcement scope. It increases penalties for unauthorized disclosure of tax data and restricts the use of increased funding for auditing individuals earning less than $400,000 annually. The bill also aims to improve the accuracy of tax refunds and credits paid out by the IRS.
Key points
Audit Protection: Increased IRS funding cannot be used to audit individual taxpayers with an adjusted gross income below $400,000.
Donor Privacy: Non-profit organizations are generally not required to disclose the names and addresses of their contributors on annual tax returns.
Data Security: The penalty for unauthorized disclosure of taxpayer information by an IRS employee or preparer increases significantly to $250,000.
Expired
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