Streamlining IRS Operations Act
If enacted, HB2688 will significantly change how tax returns are filed and processed, especially for individuals and businesses that opt to prepare returns electronically but submit them in paper format. The bill aims to streamline operations within the IRS by minimizing resources spent on paper documentation. This shift could lead to quicker processing times and reduced errors in return handling, ultimately benefiting both tax filers and the IRS.
House Bill 2688, titled the Streamlining IRS Operations Act, seeks to amend the Internal Revenue Code of 1986 by introducing a requirement for electronically prepared tax returns that are submitted on paper to include a scannable code. This move is designed to enhance efficiency in processing paper returns by allowing them to be converted back into electronic format when scanned. The intention behind this bill is to modernize the filing process, reducing the resource drain associated with manually handling paper tax returns that were originally prepared electronically.
Despite the aims of HB2688 to improve efficiency, the legislation may face scrutiny regarding the feasibility of implementation and the burden it places on taxpayers. Concerns may arise over whether all taxpayers have access to the technology required to generate and successfully scan these codes. Moreover, there may be apprehensions related to privacy and security, particularly in how electronic data is managed and the potential implications of mishandling sensitive information.