Tax Filing Simplification Act of 2022

Hozzl · 2022-12-29T18:33:46Z

Explore the details of Senate Bill 4508 Tax Filing Simplification Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/29/2022, 6:33 PM

Congressional Summary of S 4508

Tax Filing Simplification Act of 2022

This bill directs the Internal Revenue Service (IRS) to establish a free on-line tax preparation and filing service and allows taxpayers to access third-party provided tax return information and information held by the IRS.

The bill prohibits the IRS from entering into any agreement that restricts its legal right to provide tax return preparation services or to provide tax return filing services.

The bill requires the IRS to establish and operate programs to (1) facilitate claims for the child care and the earned income tax credits, (2) provide software for the preparation and filing of individual income tax returns for taxable years beginning after 2022, (3) allow taxpayers to download third-party provided return information and IRS-held information to their tax returns, and (4) allow taxpayers to elect to have their tax returns prepared by the IRS.

The bill also requires verification of taxpayer identity and requires the IRS to conduct an outreach campaign to provide the public with information about this bill's programs and software.

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Current Status of Bill S 4508

Bill S 4508 is currently in the status of Bill Introduced since July 12, 2022. Bill S 4508 was introduced during Congress 117 and was introduced to the Senate on July 12, 2022. Bill S 4508's most recent activity was Read twice and referred to the Committee on Finance. as of July 12, 2022

Bipartisan Support of Bill S 4508

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 4508

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 4508

Tax Filing Simplification Act of 2022Tax Filing Simplification Act of 2022A bill to amend the Internal Revenue Code of 1986 to establish a free on-line tax preparation and filing service and programs that allow taxpayers to access third-party provided tax return information and information held by the Internal Revenue Service.

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