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Congress.gov, H.R.3860, 115th Congress, IRS Data Verification Modernization Act of 2017

Summary

Rep. Patrick T. McHenry (R-NC-10) introduced H.R.3860, the IRS Data Verification Modernization Act of 2017, in the 115th Congress on 09/28/2017, and it was referred that day to the House Committee on Ways and Means; the Congress.gov page lists its status as Introduced. According to the CRS summary, the bill requires the IRS to run a program making its disclosures of tax returns or return information to a person verifying a taxpayer's income for a legitimate business purpose fully automated and accomplished through the Internet, as close to real-time as is practicable. The IRS must assess and collect a fee for those disclosures at rates sufficient to recover the program's costs not later than five years after the costs are paid or incurred. The policy area is Taxation.

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Full text

H.R.3860 - IRS Data Verification Modernization Act of 2017 115th Congress (2017-2018)

Bill

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Sponsor: | Rep. McHenry, Patrick T. [R-NC-10] (Introduced 09/28/2017)
Committees: | House - Ways and Means
Latest Action: | House - 09/28/2017 Referred to the House Committee on Ways and Means. ( All Actions )

Tracker:

This bill has the status Introduced

Here are the steps for Status of Legislation:

- Introduced

More on This Bill

Subject — Policy Area:

- Taxation
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Summary: H.R.3860 — 115th Congress (2017-2018) All Information (Except Text)

There is one summary for H.R.3860. Bill summaries are authored by CRS .

Shown Here: Introduced in House (09/28/2017)

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.

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