House Passes Taxpayer Assistance Bill

On April 14, 2010, as a token gesture before tax day on April 15th, the House passed the Taxpayer Assistance bill (HR4994) by a vote of 399 to 9. The legislation would eliminate detailed recordkeeping requirements for business cell phones, require taxpayers to be notified of eligibility for the Earned Income Credit in the prior year, and repeal the partial payment requirement for offers-in-compromise. The legislation is paid for with an increase in penalties for failure to file information returns. It is not clear when the Senate will take up the legislation.

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