Tax Transparency Act of 2023

Hozzl · 2023-12-15T15:56:47Z

Explore the details of House Bill 2515 Tax Transparency Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/15/2023, 3:56 PM

Summary of Bill HR 2515

Bill 118 HR 2515, also known as the Tax Transparency Act of 2023, aims to increase transparency in the tax system by requiring certain tax information to be publicly disclosed. The bill requires the Internal Revenue Service (IRS) to publish a report each year that includes information on the total amount of taxes paid by corporations, individuals, and other entities.

Additionally, the bill requires the IRS to disclose information on tax breaks and loopholes that are utilized by taxpayers to reduce their tax liability. This information will be made available to the public in an effort to increase understanding of the tax system and promote accountability.

Furthermore, the Tax Transparency Act of 2023 includes provisions to improve tax compliance and enforcement. The bill authorizes the IRS to hire additional staff and resources to better enforce tax laws and crack down on tax evasion. Overall, the Tax Transparency Act of 2023 aims to increase transparency in the tax system, promote accountability, and improve tax compliance and enforcement. It is designed to provide the public with more information about how taxes are paid and collected, and to ensure that all taxpayers are paying their fair share.

Congressional Summary of HR 2515

Tax Transparency Act of 2023

This bill requires the President, the Vice President, Members of Congress, and candidates for such offices to publicly disclose their individual tax returns for the previous seven years.

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Current Status of Bill HR 2515

Bill HR 2515 is currently in the status of Bill Introduced since April 6, 2023. Bill HR 2515 was introduced during Congress 118 and was introduced to the House on April 6, 2023. Bill HR 2515's most recent activity was Referred to the House Committee on Ways and Means. as of April 6, 2023

Bipartisan Support of Bill HR 2515

Total Number of Sponsors

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Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 2515

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 2515

Tax Transparency Act of 2023

To amend the Internal Revenue Code of 1986 to require public disclosure of individual tax returns of the President, the Vice President, and Members of Congress, and candidates for such offices.