H.R.2007 - To require the Secretary of the Treasury to establish a program for the automated disclosure of taxpayer information for third-party income verification, and for other purposes.116th Congress (2019-2020) |
|Sponsor:||Rep. Blumenauer, Earl [D-OR-3] (Introduced 04/01/2019)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 04/01/2019 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.2007 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (04/01/2019)
This bill requires the Internal Revenue Service (IRS) to implement a program to ensure that certain disclosures of tax returns or return information for third-party income verification are (1) fully automated and accomplished through the Internet, and (2) accomplished in as close to real-time as is practicable.
The requirement applies to IRS disclosures of returns or return information to a person verifying the income or creditworthiness of a taxpayer who is a borrower in the process of a loan application.
In implementing the program, the IRS must (1) ensure that the program complies with applicable security standards and guidelines; and (2) assess and collect a fee for the disclosures at rates that are sufficient to cover the costs related to implementing the program, including the costs of necessary infrastructure or technology.