Bill > HR5206

This bill has several key provisions: 1. It requires the Internal Revenue Service (IRS) to issue an annual report projecting the tax gap, which is the difference between taxes owed and taxes actually collected. The Commissioner of the IRS must use artificial intelligence and other data analysis tools to calculate this projection, and is limited in the number of National Research Program audits that can be used. 2. It requires the Joint Committee on Taxation to analyze the IRS's tax gap projection and submit a report to Congress, including an assessment of the methodologies and data used. 3. It restricts the IRS from using any additional funding for audit and enforcement purposes beyond fiscal year 2021 levels until 180 days after the updated tax gap projection is published. 4. It also restricts the IRS from using any additional funding beyond fiscal year 2021 levels for certain specified purposes, such as implementing new information reporting requirements on financial accounts, targeting individuals based on political beliefs, auditing low-income taxpayers, and hiring certain researchers to access IRS data. 5. The bill directs the IRS to update its methodology for selecting corporate returns for audit and reassign resources to focus on high-income non-filers. It also requires the Comptroller General to report on IRS data that could be used for compliance activities. 6. Finally, the bill establishes a fellowship program within the IRS to recruit mid-career tax professionals to create and participate in an audit task force focused on complex tax cases and emerging issues.

Budget and Finance

https://www.congress.gov/bill/117th-congress/house-bill/5206/all-info