H.R.3860 - IRS Data Verification Modernization Act of 2017115th Congress (2017-2018)
|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)|
This bill has the status Introduced
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Summary: H.R.3860 — 115th Congress (2017-2018)All Information (Except Text)
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.