Bill Sponsor
House Bill 2007
116th Congress(2019-2020)
To require the Secretary of the Treasury to establish a program for the automated disclosure of taxpayer information for third-party income verification, and for other purposes.
Introduced
Introduced
Introduced in House on Apr 1, 2019
Overview
Text
Introduced
Apr 1, 2019
Latest Action
Apr 1, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2007
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
Democrat
Oregon
Republican
North Carolina
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

This bill requires the Internal Revenue Service (IRS) to implement a program to ensure that certain disclosures of tax returns or return information for third-party income verification are (1) fully automated and accomplished through the Internet, and (2) accomplished in as close to real-time as is practicable.

The requirement applies to IRS disclosures of returns or return information to a person verifying the income or creditworthiness of a taxpayer who is a borrower in the process of a loan application.

In implementing the program, the IRS must (1) ensure that the program complies with applicable security standards and guidelines; and (2) assess and collect a fee for the disclosures at rates that are sufficient to cover the costs related to implementing the program, including the costs of necessary infrastructure or technology.

Text (1)
April 1, 2019
Actions (2)
04/01/2019
Referred to the House Committee on Ways and Means.
04/01/2019
Introduced in House
Public Record
Record Updated
Nov 1, 2022 6:47:26 PM