Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and House Ways and Means Committee Ranking Member Kevin Brady (R-Texas) today introduced the Tax Gap Reform and Internal Revenue Service Enforcement Act, a bill that would, among other things, block the IRS from establishing new bank reporting requirements.
The bill would also require tax gap estimates to be updated annually in coordination with the Joint Committee on Taxation, limit the IRS’ ability to increase audits of certain taxpayers, require the IRS to use existing data and tools to improve its audit selection process and increase enforcement against high-income non-filers, and create a fellowship pilot program to assist with the agency’s most complex audits and case selection decisions.
