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Simplify, Don’t Amplify the IRS Act

3/12/2024, 12:43 AM

Summary of Bill S 1101

Bill 118 s 1101, also known as the Simplify, Don't Amplify the IRS Act, is a piece of legislation introduced in the US Congress. The main goal of this bill is to streamline and simplify the tax code, specifically focusing on reducing the complexity of the Internal Revenue Service (IRS) and making it easier for taxpayers to understand and comply with tax laws.

The bill includes provisions that aim to simplify the tax filing process for individuals and businesses, such as reducing the number of tax brackets and eliminating certain deductions and credits that are deemed unnecessary or overly complicated. Additionally, the bill seeks to improve taxpayer privacy and security by limiting the amount of personal information that the IRS can collect and share.

One of the key components of the Simplify, Don't Amplify the IRS Act is the requirement for the IRS to provide clear and concise explanations of tax laws and regulations, as well as to make resources and assistance more readily available to taxpayers. The bill also calls for increased oversight and accountability within the IRS to ensure that taxpayer rights are protected and that the agency operates efficiently and effectively. Overall, the Simplify, Don't Amplify the IRS Act aims to make the tax system more user-friendly and less burdensome for individuals and businesses, while also promoting transparency and accountability within the IRS. The bill has garnered bipartisan support in Congress and is currently being considered for passage.

Congressional Summary of S 1101

Simplify, Don't Amplify the IRS Act

This bill limits Internal Revenue Service (IRS) enforcement authority and modifies certain IRS reporting requirements.

Among other provisions, the bill

  • increases the gross receipts reporting threshold for certain religious and charitable organizations from $5,000 to $50,000;
  • generally increases penalties for unauthorized disclosure of taxpayer information and for such disclosures by tax return preparers;
  • requires the IRS to establish a fellowship program to recruit private sector tax experts to create a task force to. among other things, educate IRS employees on emerging issues, perform audits, and address offshore tax evasion; and
  • sets forth provisions for reducing improper payments to taxpayers.

The bill also requires the IRS to report annually on the tax gap estimate for the most recent taxable year. The IRS must use artificial intelligence to calculate an estimate of the tax gap. The bill defines tax gap as the difference between tax liabilities owed to the United States and those liabilities actually collected.

The bill restricts funding for IRS audits and enforcement until the IRS publishes an updated tax gap projection.

Read the Full Bill

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Current Status of Bill S 1101

Bill S 1101 is currently in the status of Bill Introduced since March 30, 2023. Bill S 1101 was introduced during Congress 118 and was introduced to the Senate on March 30, 2023.  Bill S 1101's most recent activity was Read twice and referred to the Committee on Finance. as of March 30, 2023

Bipartisan Support of Bill S 1101

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
0
Republican Cosponsors
2
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 1101

Primary Policy Focus

Alternate Title(s) of Bill S 1101

Simplify, Don’t Amplify the IRS Act
Simplify, Don’t Amplify the IRS Act
A bill to amend the Social Security Act to remove the restriction on the use of Coronavirus State Fiscal Recovery funds, to amend the Internal Revenue Code of 1986 to codify the Trump administration rule on reporting requirements of exempt organizations, and for other purposes.

Comments

Sponsors and Cosponsors of S 1101

Mike Braun
Mike Braun
IndianaRepublican
Rick Scott
Rick Scott
FloridaRepublican

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