summary
Introduced
09/28/2017
09/28/2017
In Committee
09/28/2017
09/28/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
IRS Data Verification Modernization Act of 2017 This bill requires the Internal Revenue Service (IRS) to implement a program to ensure that disclosures of tax returns or return information by the IRS to a person verifying the income of a taxpayer for a legitimate business purpose are: (1) fully automated and accomplished through the Internet, and (2) accomplished in as close to real-time as is practicable. The IRS must assess and collect a fee for the disclosures described above at rates that are sufficient to recover the costs related to implementing the program not later than five years after the costs are paid or incurred.
AI Summary
This bill, the IRS Data Verification Modernization Act of 2017, requires the Internal Revenue Service (IRS) to implement a program that ensures disclosures of tax returns or return information to persons verifying a taxpayer's income for legitimate business purposes are fully automated and accomplished through the internet in near real-time. The IRS must also assess and collect a fee for these disclosures at a rate sufficient to recover the costs of implementing the program within five years of the costs being incurred, with the collected fees deposited as offsetting collections to fund the program's activities.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Referred to the House Committee on Ways and Means. (on 09/28/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/house-bill/3860/all-info |
| BillText | https://www.congress.gov/115/bills/hr3860/BILLS-115hr3860ih.pdf |
| Bill | https://www.congress.gov/115/bills/hr3860/BILLS-115hr3860ih.pdf.pdf |
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