IRS Math and Taxpayer Help Act of 2024: Detailed Error Reporting Required
Thursday, 18 April 2024, 15:28
Proposed Legislation: IRS Math and Taxpayer Help Act of 2024
A bipartisan bill introduced by Senators Elizabeth Warren and Bill Cassidy, and Representatives Andy Feenstra and Brad Schneider, aims to reform how the IRS communicates errors on taxpayers' returns.
Key Features:
- Detail-Oriented: IRS to specify exact errors on tax returns.
- Impact on CTC Claims: Millions could be affected by the bill's enforcement.
- NTA Concerns: The National Taxpayer Advocate highlighted consequences of current error practices.
The legislation, known as the IRS Math and Taxpayer Help Act of 2024, intends to enhance taxpayer clarity and accountability in IRS error corrections for a more secure tax processing system.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.