Bill 119 s 608, also known as the "Math Error Notification Act of 2021," aims to make changes to the Internal Revenue Code of 1986 in order to enhance the information provided on math and clerical error notices sent to taxpayers by the Internal Revenue Service (IRS).
The bill requires the IRS to include additional details on these notices, such as a clear explanation of the error that was made, the specific section of the tax code that was violated, and the calculation used to determine the error. This information is intended to help taxpayers better understand why the error occurred and how it was calculated, making it easier for them to correct the mistake and avoid future errors.
Furthermore, the bill also requires the IRS to provide taxpayers with a reasonable amount of time to respond to these notices and correct the error before any penalties or interest are assessed. This provision is designed to ensure that taxpayers have a fair opportunity to address any mistakes and avoid unnecessary financial burdens.
Overall, Bill 119 s 608 seeks to improve transparency and communication between the IRS and taxpayers when it comes to math and clerical errors, ultimately aiming to make the tax system more fair and efficient for all parties involved.