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 taxpayer services, for operations support for taxpayer services and enforcement activities, for business system modernization, 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 theTreasury Inspector General for Tax Administration,Office of Tax Policy,U.S. Tax Court, andoffices within the Department of the Treasury that provide oversight and support for the IRS.Finally, the bill expresses the sense of Congress that the rescinded unobligated funds that were appropriated to the IRS by the Inflation Reduction Act of 2022 should be appropriated for the establishment and administration of an External Revenue Service.
Impact
If enacted, SB175 could significantly alter the structure of tax administration in the United States. By reallocating funds initially designated for improving IRS capabilities, the bill might undermine efforts to enhance the IRS’s effectiveness in tax collection, which could have downstream effects on federal revenue generation. Supporters of the bill might argue that shifting focus to an External Revenue Service would lead to innovative approaches in tax collection, while detractors may contend that it could disrupt current tax collection systems.
Summary
Senate Bill 175 aims to rescind unobligated funds that were originally appropriated for enhancements to the Internal Revenue Service (IRS). The purpose of this bill is to redirect those funds towards the establishment and administration of an External Revenue Service. The bill reflects ongoing discussions within the government regarding the efficiency and effectiveness of internal versus external revenue collection services.
Contention
Notable points of contention surrounding SB175 include debates over whether the redirection of funds is necessary and effective. Critics may raise concerns about the potential consequences of diminishing the IRS's operational capacity, especially following recent efforts to bolster the agency's resources for better compliance and enforcement regarding tax laws. Proponents are likely to highlight the need for fresh strategies in revenue collection, thus justifying the establishment of the External Revenue Service as a potential remedy to perceived inefficiencies.
Family and Small Business Taxpayer Protection Act This bill rescinds certain unobligated amounts made available to the Internal Revenue Service by the Inflation Reduction Act of 2022 for its enforcement activities and for funding certain Department of the Treasury tax agencies.
To ensure the successful development of the electronic Income Verification Express Service of the Internal Revenue Service by amending the Taxpayer First Act to clarify that taxpayer identity verification is the responsibility of users of the system rather than the taxpayer, and for other purposes.
Prioritizing Troops Over Tax Collectors Act of 2023 This bill establishes the rate of basic pay for a member of the uniformed services at the minimum amount of $31,200. It transfers unobligated amounts made available to the Internal Revenue Service (IRS) by the Inflation Reduction Act of 2022 for enforcement activities to pay for the increase in basic pay. The bill also prohibits the IRS from hiring additional employees until the increase in the rate of basic pay is implemented.
Stop Inflationary Spending Act This bill requires the Congressional Budget Office (CBO) to provide inflation projections for bills that Congress considers using the budget reconciliation process. Specifically, the CBO must estimate the impact on inflation that will occur from implementing each reconciliation bill, including the impact on inflation that will occur during each of the first five years after the enactment of the bill.
A bill to prevent the use of additional Internal Revenue Service funds from being used for audits of taxpayers with taxable incomes below $400,000 in order to protect low- and middle-income earning American taxpayers from an onslaught of audits from an army of new Internal Revenue Service auditors funded by an unprecedented, nearly $80,000,000,000, infusion of new funds.
To amend the Internal Revenue Code of 1986 to provide a credit to small businesses for research activities related to the mitigation of certain drug threats.