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- H.R.4318
H.R.4318: To amend the Internal Revenue Code of 1986 to modify the penalty on the understatement of taxpayer's liability by tax return preparers.
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced Dec. 6, 2007
- Latest Major Action Dec. 6, 2007
Bill Sponsor
Bill Cosponsors
49 (17 Democrats, 33 Republicans)
Bill 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...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| Dec. 6, 2007 |
Introduced in the House by Joseph Crowley (D-N.Y.) |