To rescind certain balances made available to the Internal Revenue Service.

Hozzl · 2025-01-10T09:05:49Z

Explore the details of House Bill 196 To rescind certain balances made available to the Internal Revenue Service. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

1/10/2025, 9:05 AM

Summary of Bill HR 196

Bill 119 HR 196, also known as the "Rescinding IRS Balances Act," aims to revoke certain funds that were allocated to the Internal Revenue Service (IRS). The bill was introduced in the House of Representatives and is currently under consideration.

The purpose of this legislation is to address concerns about the IRS's use of funds and ensure that taxpayer money is being spent efficiently and effectively. By rescinding these balances, the bill seeks to hold the IRS accountable for its financial management and promote transparency in government spending.

If passed, Bill 119 HR 196 would require the IRS to return the specified balances to the Treasury Department, where they would be reallocated for other purposes. This measure is intended to prevent wasteful spending and promote fiscal responsibility within the IRS. Overall, the Rescinding IRS Balances Act is a straightforward piece of legislation that aims to address financial accountability within the IRS. It is important for Congress to carefully consider the implications of this bill and ensure that taxpayer dollars are being used responsibly.

Congressional Summary of HR 196

Family and Small Business Taxpayer Protection Act

This bill rescinds unobligated funds that were provided by the Inflation Reduction Act of 2022 to the Internal Revenue Service (IRS) for enforcement activities related to the determination and collection of taxes, for operations support for taxpayer services and enforcement activities, and for a task force to research options for a free, direct electronic filing (e-filing) tax return system.

The bill also rescinds unobligated funds that were provided by the Inflation Reduction Act of 2022 for expenses of the

Treasury Inspector General for Tax Administration,
Office of Tax Policy,
U.S. Tax Court, and
offices within the Department of the Treasury that provide oversight and support for the IRS.

Current Status of Bill HR 196

Bill HR 196 is currently in the status of Bill Introduced since January 3, 2025. Bill HR 196 was introduced during Congress 119 and was introduced to the House on January 3, 2025. Bill HR 196's most recent activity was Referred to the House Committee on Ways and Means. as of January 3, 2025