Bill > S4046

This bill: 1. Removes the restriction on the use of Coronavirus State Fiscal Recovery funds, allowing states and territories to use the funds for any purpose other than depositing them into pension funds. 2. Codifies the Trump administration rule on reporting requirements for tax-exempt organizations, increasing the gross receipts threshold for reporting and exempting certain organizations from reporting requirements. 3. Increases the penalties for unauthorized disclosure of taxpayer information and makes it more difficult to appeal removal from federal service for such violations. 4. Requires the IRS Commissioner to submit an annual projection of the tax gap (the difference between taxes owed and taxes collected) and restricts increased IRS enforcement funding until the projection is published. 5. Establishes an IRS fellowship program to bring in private sector tax experts to help with complex tax cases and audit selection. 6. Imposes restrictions on the use of increased IRS funding for certain purposes, such as new information reporting requirements, targeting based on ideological beliefs, auditing low-income taxpayers, and hiring certain researchers. 7. Aims to reduce improper tax payments by the IRS through increased transparency, accountability, and policy proposals.

Budget and Finance

https://www.congress.gov/bill/117th-congress/senate-bill/4046/all-info