US HB2007 | 2019-2020 | 116th Congress

US Congress House Bill 2007 (Prior Session Legislation)

US State Legislature page for HB2007

Status

Spectrum: Bipartisan Bill
Status: Introduced on April 1 2019 - 25% progression, died in committee
Action: 2019-04-01 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

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.

Title

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.

History

Date	Chamber	Action
2019-04-01	House	Referred to the House Committee on Ways and Means.
2019-04-01	House	Introduced in House

Same As/Similar To

HB1957 (Related) 2020-08-04 - Became Public Law No: 116-152. (TXT | PDF)
SB928 (Related) 2019-03-28 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2091)
SB1100 (Same As) 2019-04-09 - Read twice and referred to the Committee on Finance.
HB3151 (Related) 2019-07-01 - Became Public Law No: 116-25. (TXT | PDF)
HR1053 (Similar To) 2020-07-20 - Motion to reconsider laid on the table Agreed to without objection.