H.R. 5719, The Taxpayer Assistance and Simplification Act of 2008

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 5719 would amend the Internal Revenue Code of 1986 to conform return preparer penalty standards, delay implementation of withholding taxes on government contractors, enhance taxpayer protections, assist low-income taxpayers.

Detailed Summary

Taxpayer Assistance and Simplification Act of 2008 - Amends the Internal Revenue Code to: (1) modify penalty provisions for tax return preparers who take an unreasonable position in the preparation of a tax return causing an underpayment of tax; (2) eliminate certain restrictions on the tax deduction for employee use of cellular telephones; (3) exempt recipients of home care services from liability for employment taxes for payments made to home care service providers; (4) authorize the Secretary of the Treasury to make grants for volunteer income tax assistance programs; (5) require written notice to taxpayers of eligibility for the earned income tax credit; (6) place restrictions on information relating to refund anticipation loans; (7) require the Secretary to notify a taxpayer of any unauthorized use of such taxpayer's identity (suspected identity theft) uncovered during an tax investigation; (8) repeal the authority of the Internal Revenue Service (IRS) to enter into private debt collection contracts; (9) extend the period during which the IRS may return property seized in a wrongful tax levy; and (10) increase penalties for failures to provide correct tax information and to file partnership or S corporation tax returns.

Delays until 2012 the 3% withholding requirement on government payments to contractors providing goods and services.

Directs the Secretary of the Treasury to conduct a feasibility study on alternative means of delivering tax refunds.

Expands the prohibitions against the misuse of Department of the Treasury names and symbols to include misuse on an Internet domain address.

Status of the Legislation

Latest Major Action: 4/14/2008: Supplemental report filed by the Committee on Ways and Means, H. Rept. 110-584, Part II.

Points in Favor

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Points Against

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