House Passes Taxpayer Rights Bill

The House, on June 19, 2003, approved the Taxpayer Protection and IRS Accountability Bill of 2003 (HR 1528) by a vote of 252 to 170. The bill seeks to provide a first-time penalty waiver, to expand the availability of installment sales for payment of taxes, and to encourage electronic filing through a filing extension. The bill also seeks to protect taxpayer confidentiality by limiting inspections of return preparers and protecting access to the Taxpayer Advocate. In addition, the bill increases the funding for low-income taxpayer clinics. One much debated provision in the legislation would ease consumer protections on state-run health insurance plans that accept tax credits. It was not immediately clear what action the Senate might take with respect to the legislation.


AUTHOR

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

All stories by: Wolters Kluwer Tax and Accounting