Bill > S1101

This bill, the "Simplify, Don't Amplify the IRS Act," has several key provisions: 1. It raises the gross receipts threshold for organizations exempt from reporting requirements under the Internal Revenue Code from $5,000 to $50,000, and expands the types of organizations that are exempt from reporting. This is intended to reduce the reporting burden on smaller organizations. 2. It removes the requirement for tax-exempt organizations to report the names and addresses of their contributors, except for Section 527 political organizations. 3. It limits the ability of IRS employees to use taxpayer-funded time for union activities during the period from February 12 to April 15 each year. 4. It increases the penalties for unauthorized disclosure of taxpayer information and makes it harder to appeal certain disciplinary actions against IRS employees. 5. It requires the IRS Commissioner to provide Congress with annual projections of the tax gap (the difference between taxes owed and taxes actually paid), and restricts the IRS from increasing enforcement funding until the Commissioner publishes an updated tax gap projection. 6. It also places restrictions on the IRS's use of funds for certain purposes, such as implementing new information reporting requirements on bank accounts and hiring certain researchers to access taxpayer data. Overall, the bill aims to limit the IRS's ability to expand enforcement and reporting requirements, while providing more protections for taxpayers and exempt organizations.

Budget and Finance

https://www.congress.gov/bill/118th-congress/senate-bill/1101/all-info