Low Income Taxpayer Protection Act of 2001

Fact Sheet API

Bill Number

S 802

Introduced

Apr 30, 2001

Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4049-4050)

Sponsor

Cosponsors

Topics

Administrative fees Administrative procedure Computer software Congress Congressional reporting requirements Cost control Department of the Treasury Earned income tax credit Economics and Public Finance Electronic data interchange Electronic funds transfers Fees Finance and Financial Sector Fines (Penalties) Government Operations and Politics Governmental investigations Identification devices Income tax Indian lands Interest rates Law Licenses Loans Minorities Personal income tax Poor Science, Technology, Communications Social Welfare Tax administration Tax penalties Tax preparers Tax refunds Tax returns Taxation

Full Text

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Votes

Summary

Low Income Taxpayer Protection Act of 2001 - Amends the Internal Revenue Code to require the promulgation of regulations that: (1) require the registration of income tax return preparers and of refund anticipation loan providers; and (2) prohibit the payment of a refund of tax to a refund anticipation loan provider or an income tax return preparer that is the result of a tax return which is prepared by the refund anticipation loan provider or the income tax return preparer which does not include the refund anticipation loan provider's or the income tax return preparer's registration number.

Requires the Secretary of the Treasury to focus electronic filing efforts on benefitting the taxpayer by: (1) reducing the time between receipt of an electronically filed return and remitting a refund; (2) reducing the cost of filing a return electronically; (3) improving services provided by the Internal Revenue Service to low and moderate income taxpayers; and (4) providing tax-related computer software at no or nominal cost to low and moderate income taxpayers.

Provides for a pilot program for the creation of four mobile tax return filing offices with electronic filing capabilities.

Actions

Apr 30, 2001

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4049-4050)
Apr 30, 2001

Sponsor introductory remarks on measure. (CR S4049)
Apr 30, 2001

Introduced in Senate

Amendments

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