Latest Action: 07/30/2008 - Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 51 - 43. Record Vote Number: 192. (consideration: CR S7722; text: CR S7722)

Bill Text
A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 7/24/2008--Introduced. Jobs, Energy, Families, and Disaster Relief Act of 2008 - Amends the Internal Revenue Code to extend various provisions relating to energy production and conservation and to individual and business-related activities.Extends the tax credit for producing electricity from wind facilities through 2009 and the tax credit for closed and open-loop biomass, geothermal, small irrigation, hydropower, landfill gas, and trash combustion facilities through 2011. Includes marine and hydrokinetic renewable energy as a renewable resource for purposes of such tax credit. Extends the energy tax credit for solar energy and the residential energy efficient property tax credit through 2016. Extends the energy tax credits for fuel cell and microturbine property through 2017. Allows a new investment tax credit for combined heat and power system property.[...]

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Latest Action: 06/12/2008 - Sponsor introductory remarks on measure. (CR S5595-5597)

Bill Text
A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 6/12/2008--Introduced. Energy Independence and Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend various provisions relating to energy production and conservation and to individual and business-related activities.Extends through 2009 the tax credit for producing electricity from wind facilities and through 2011 for closed and open-loop biomass, geothermal, small irrigation, hydropower, landfill gas, and trash combustion facilities. Includes marine and hydrokinetic renewable energy as a renewable resource for purposes of such tax credit. Extends through 2014: (1) the energy tax credits for solar energy, fuel cell, and microturbine property; and (2) the residential energy efficient property tax credit. Allows a new investment tax credit for combined heat and power system property.Provides funding for new clean renewable energy [...]

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Latest Action: 09/29/2008 - Message on Senate action sent to the House.

Bill Text
To amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes. 9/23/2008--Passed Senate amended.    (There are 3 other summaries) Energy Improvement and Extension Act of 2008 - Amends the Internal Revenue Code to extend and modify expiring provisions related to energy production and conservation and to provide for revenue enhancements.Title I: Energy Production Incentives - Subtitle A: Renewable Energy Incentives - (Sec. 101) Extends the tax credit for the production of electricity from renewable resources: (1) through 2009 for wind and refined coal facilities; and (2) through 2010 for closed and open-loop biomass, geothermal or solar energy, small irrigation power, landfill gas, trash combustion, and hydropower facilities. Modifies tax credit rules for refined coal, trash, and biomass [...]

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Latest Action: 04/15/2008 - Read twice and referred to the Committee on Finance.

Bill Text
A bill to amend the Internal Revenue Code of 1986 to prohibit the imposition of a separate fee for electronic filing of returns and statements for individuals, and for other purposes.

4/15/2008--Introduced.

Amends the Internal Revenue Code to prohibit any person who is authorized to originate the electonic submission of a income tax return or statement from charging a separate fee for such electronic submission. Imposes a $50 fine for each violation.

Latest Action: 04/14/2008 - Read twice and referred to the Committee on Finance.

Bill Text
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.

4/14/2008--Introduced.

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.

Latest Action: 04/08/2008 - Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the commit

Bill Text
To amend the Internal Revenue Code of 1986 to provide taxpayer protection and assistance, and for other purposes. 4/8/2008--Introduced. Taxpayer Bill of Rights Act of 2008 - Amends the Internal Revenue Code to require the Secretary of the Treasury to publish a summary statement of specified taxpayer rights and obligations.Authorizes the Secretary to: (1) make grants to provide matching funds for qualified return preparation programs that provide volunteer income tax preparation assistance to low-income taxpayers; and (2) refer such taxpayers to taxpayer clinics funded by the federal government. Requires the Secretary to establish a system for regulating and testing federal income tax return preparers.Requires refund loan facilitators to file annual registrations with the Secretary and to make certain disclosures to borrowers about refund anticipation loans.Expands and increases penalties on tax return preparers for understating taxpayer liabilities.[...]

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Latest Action: 04/16/2008 - Received in the Senate and Read twice and referred to the Committee on Finance.

Bill Text
To 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, and for other purposes. 4/15/2008--Passed House amended.    (There are 2 other summaries) Taxpayer Assistance and Simplification Act of 2008 - (Sec. 2) 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 that 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 [...]

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Latest Action: 03/06/2008 - Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the commi

Bill Text
To amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to increase the retirement security of women and small business owners, and for other purposes. 3/6/2008--Introduced. Women's Retirement Security Act of 2008 - Amends the Internal Revenue Code to: (1) require certain small employers who do not provide retirement plans for their employees to allow eligible employees to participate in a payroll deposit individual retirement account arrangement (automatic IRA); (2) expand eligibility for the tax credit for retirement savings contributions (saver's credit) and make such credit refundable; (3) allow certain part-time employees to participate in qualified cash or deferred arrangements; (4) allow the transfer of up to $500 of unused health plan benefits to qualified retirement plans; (5) treat wage replacement income (e.g., disability pay or unemployment compensation) as earned income for purposes of IRA contribution limits; (6) allow [...]

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Latest Action: 12/06/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to modify the penalty on the understatement of taxpayer's liability by tax return preparers.

12/6/2007--Introduced.

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.

Latest Action: 08/02/2007 - Read twice and referred to the Committee on Finance.

Bill Text
A bill to provide administrative ease and incentives for increased saving by Americans, and for other purposes. 8/2/2007--Introduced. New Savers Act - Requires the Commissioner of Internal Revenue to notify individual taxpayers of their options to: (1) have their income tax refunds electronically deposited to a designated bank account (e.g., savings account); and (2) purchase U.S. savings bonds when they file their federal income tax returns.Authorizes the Secretary of the Treasury to: (1) make grants to provide matching funds for clinics to assist low-income taxpayers in preparing and filing their federal income tax returns; (2) increase payments to financial institutions to offset the costs of opening electronic transfer accounts; and (3) provide grants to states to increase participation in qualified tuition programs by moderate and low-income families.Requires the Secretary to: (1) establish performance measures to evaluate the extent to which Americans save [...]

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Latest Action: 05/16/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to curb tax abuses by disallowing tax benefits claimed to arise from transactions without substantial economic substance, and for other purposes. 5/16/2007--Introduced. Abusive Tax Shelter Shutdown and Taxpayer Accountability Act of 2007 - Amends the Internal Revenue Code to revise or add provisions relating to tax shelter activity, including provisions to: (1) define "economic substance" for purposes of evaluating tax shelter transactions; (2) increase penalties for large entities and high net-worth individuals for failure to disclose certain tax shelter transactions; (3) impose penalties for understatements of tax due to transactions lacking economic substance; (4) deny material tax advisors a claim of privilege as to the identity of a client; (5) revise standards for the penalty for understatement of tax liability by income tax return preparers and increase the penalties for such understatements; (6) revise and increase [...]

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Latest Action: 05/25/2007 - Message on Senate action sent to the House.

Bill Text
Making emergency supplemental appropriations and additional supplemental appropriations for agricultural and other emergency assistance for the fiscal year ending September 30, 2007, and for other purposes. 5/25/2007--Public Law.    (There are 3 other summaries) U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007 - Title I: Supplemental Appropriations for Defense, International Affairs, and Other Security-Related Needs - Chapter 1 - Makes additional FY2007 appropriations to the Department of Agriculture, Foreign Agricultural Service, for commodities supplied in connection with dispositions abroad under Public Law 480 Title II Grants. Chapter 2 - Makes additional FY2007 appropriations to the Department of Justice, to remain available through FY2008, for general legal activities, U.S. Attorneys, the U.S. Marshals Service, the National Security Division, the Federal Bureau of Investigation [...]

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Latest Action: 05/03/2007 - Sponsor introductory remarks on measure. (CR S5580)

Bill Text
A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to increase the retirement security of women and small business owners, and for other purposes. 5/3/2007--Introduced. Women's Retirement Security Act of 2007 - Amends the Internal Revenue Code to: (1) require certain small employers who do not provide retirement plans for their employees to allow eligible employees to participate in a payroll deposit individual retirement account arrangement (automatic IRA); (2) expand eligibility for the tax credit for retirement savings contributions (saver's credit) and make such credit refundable; (3) allow certain part-time employees to participate in qualified cash or deferred arrangements; (4) allow the transfer of up to $500 of unused health plan benefits to qualified retirement plans; (5) treat wage replacement income (e.g., disability pay or unemployment compensation) as earned income for purposes of IRA contribution limits; [...]

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