A bill to amend the Internal Revenue Code of 1986 to modify the penalties relating to the disclosure of tax return information relating to contributors to certain tax-exempt organizations, and for other purposes.

Bill 118 s 4326, also known as the "Taxpayer First Act," aims to make changes to the Internal Revenue Code of 1986 in regards to penalties for disclosing tax return information related to contributors of certain tax-exempt organizations. The bill seeks to modify these penalties in order to better protect the privacy and confidentiality of individuals who contribute to these organizations.

Specifically, the bill includes provisions that would increase penalties for unauthorized disclosure of tax return information, as well as provide additional safeguards to prevent such disclosures from occurring in the future. These changes are intended to strengthen the overall integrity of the tax system and ensure that individuals' personal financial information is kept secure.

In addition to these modifications, the bill also includes provisions for other purposes related to tax-exempt organizations and tax return information. Overall, the Taxpayer First Act aims to enhance the protection of taxpayer privacy and ensure that individuals can trust that their financial information will be kept confidential when contributing to tax-exempt organizations. It is important to note that this summary provides a factual overview of the key points of the bill without taking a partisan stance.