To amend the Internal Revenue Code of 1986 to allow the disclosure of certain business tax return information to the Bureau of Economic Analysis and the Bureau of Labor Statistics for certain statistical purposes.

Bill 118 hr 10546, also known as the Business Tax Return Information Disclosure Act, aims to amend the Internal Revenue Code of 1986 to allow for the disclosure of certain business tax return information to the Bureau of Economic Analysis and the Bureau of Labor Statistics. This disclosure would be for specific statistical purposes related to economic and labor data.

The bill seeks to provide these federal agencies with access to relevant business tax return information in order to improve the accuracy and reliability of their statistical analyses. By allowing for the sharing of this data, the government hopes to better understand and track trends in the economy and labor market, ultimately leading to more informed policy decisions.

It is important to note that the disclosure of this information would be limited to specific statistical purposes and would not compromise the confidentiality of individual businesses' tax returns. The bill includes safeguards to protect the privacy and sensitive information of taxpayers. Overall, the Business Tax Return Information Disclosure Act aims to enhance the quality of economic and labor statistics by allowing for the sharing of certain business tax return information with the Bureau of Economic Analysis and the Bureau of Labor Statistics.