To amend the Internal Revenue Code of 1986 to modify the penalty on the understatement of taxpayer's liability by tax return preparers.
Latest action · Dec 6, 2007 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedDec 6, 2007
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to modify the standards for imposing penalties on tax return preparers for understatements of tax to require: (1) substantial authority for a position with respect to an item on a tax return if such position was not disclosed with the return; and (2) a reasonable basis for a position which was disclosed with the return.
Requires tax return preparers to have a reasonable belief that a position with respect to a tax shelter or a reportable transaction (a transaction having a potential for tax avoidance or evasion) will more likely than not be sustained on its merits.
Cosponsors 49
Members who signed on, in the order they did. Signatures ran from Dec 6, 2007 to Aug 1, 2008; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-MN | Jim Ramstad | Original | Dec 6, 2007 |
| D-GA | John Lewis | Dec 12, 2007 | |
| R-CA | John Campbell | Dec 13, 2007 | |
| R-TX | K. Michael Conaway | Dec 17, 2007 | |
| R-GA | Lynn A. Westmoreland | Dec 18, 2007 | |
| R-NY | James T. Walsh | Dec 19, 2007 | |
| R-TN | John J. Duncan, Jr. | Dec 19, 2007 | |
| D-TN | John S. Tanner | Dec 19, 2007 | |
| R-PA | Phil English | Dec 19, 2007 | |
| R-KY | Ron Lewis | Jan 16, 2008 | |
| R-TN | Zach Wamp | Jan 16, 2008 | |
| R-TX | Sam Johnson | Jan 22, 2008 | |
| D-FL | Allen Boyd | Jan 29, 2008 | |
| D-WA | Jim McDermott | Feb 6, 2008 | |
| D-NC | Mike McIntyre | Feb 6, 2008 | |
| R-NY | John R. "Randy" Kuhl Jr. | Feb 12, 2008 | |
| R-ID | Bill Sali | Feb 25, 2008 | |
| R-CA | Wally Herger | Mar 3, 2008 | |
| R-MI | Dave Camp | Mar 4, 2008 | |
| R-WY | Barbara Cubin | Mar 11, 2008 | |
| R-TX | Kay Granger | Mar 11, 2008 | |
| R-NE | Lee Terry | Mar 13, 2008 | |
| D-WI | Ron Kind | Apr 1, 2008 | |
| D-CA | Xavier Becerra | Apr 3, 2008 | |
| D-CT | Christopher Murphy | Apr 8, 2008 | |
| D-ND | Earl Pomeroy | Apr 9, 2008 | |
| R-KY | Geoff Davis | Apr 9, 2008 | |
| R-OH | Steven C. LaTourette | Apr 9, 2008 | |
| R-AR | John Boozman | Apr 10, 2008 | |
| R-OH | David L. Hobson | Apr 14, 2008 | |
| R-CA | Kevin McCarthy | Apr 14, 2008 | |
| R-OH | Jean Schmidt | Apr 16, 2008 | |
| R-CT | Christopher Shays | Apr 22, 2008 | |
| R-NC | Walter B. Jones | Apr 22, 2008 | |
| R-OH | Deborah Pryce | Apr 24, 2008 | |
| D-IN | André Carson | Apr 29, 2008 | |
| R-VA | Eric Cantor | Apr 29, 2008 | |
| R-OH | Michael R. Turner | May 5, 2008 | |
| R-OH | Steve Chabot | May 5, 2008 | |
| D-PA | Jason Altmire | May 13, 2008 | |
| R-CA | Devin Nunes | May 14, 2008 | |
| R-OH | Jim Jordan | May 20, 2008 | |
| D-MA | Michael E. Capuano | May 20, 2008 | |
| D-CT | John B. Larson | Jun 4, 2008 | |
| D-FL | Tim Mahoney | Jun 18, 2008 | |
| D-HI | Neil Abercrombie | Jul 9, 2008 | |
| R-MN | Michele Bachmann | Jul 29, 2008 | |
| R-VA | Bob Goodlatte | Jul 31, 2008 | |
| D-MO | Emanuel Cleaver | Aug 1, 2008 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Dec 6, 2007 |
Actions 2
Everything that happened, newest first.
- Dec 6, 2007Introduced in House
- Dec 6, 2007Referred to the House Committee on Ways and Means.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 110-75 | TAX RETURN FILING SEASON, INTERNAL REVENUE SERVICE OPERATIONS, FISCAL YEAR 2009 BUDGET PROPOSALS, AND THE IRS NATIONAL TAXPAYER ADVOCATES ANNUAL REPORT130 pages | Ways and Means Committee | Mar 13, 2008 |
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2851 | A bill to amend the Internal Revenue Code of 1986 to modify the penalty on the understatement of taxpayer's liability by tax return preparers. | Identical bill | Apr 14, 2008 |
| HR 5719 | Taxpayer Assistance and Simplification Act of 2008 | Related bill | Apr 16, 2008 |
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to modify the penalty on the understatement of taxpayer's liability by tax return preparers.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Dec 6, 2007Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
