Bill > HR6495

This bill, titled the "Taxpayer Notification and Privacy Act," aims to enhance taxpayer privacy by requiring the Internal Revenue Service (IRS) to provide more specific notification when it seeks information from third parties, such as banks or employers, to determine a taxpayer's liability. Currently, the IRS can request information from third parties, but this bill proposes to amend Section 7602(c) of the Internal Revenue Code of 1986 to mandate that if the information sought from a third party hasn't been previously requested from the taxpayer and could reasonably be provided by them, the IRS must identify each specific item of information it intends to obtain. Furthermore, the bill requires the IRS to give the taxpayer a reasonable opportunity, with a minimum period to respond (and the possibility of extensions), before contacting these third parties, unless the Secretary of the Treasury provides an exception. An exception to the specificity requirement is also included, allowing the IRS to proceed without identifying specific information if the Secretary determines it's necessary. These changes are set to take effect 12 months after the bill is enacted.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/6495/all-info