House Ways and Means Committee Releases Package of Bills to Overhaul IRS

Yesterday, the House Ways and Means Oversight Subcommittee released a package of bills to overhaul the IRS. The bills are substantially similar to a discussion draft released March 26 and include measures to enhance cybersecurity and prevent identity fraud, modernize the agency’s information technology systems, and improve customer service. One of the bills, H.R. 5443, would require exempt organizations to electronically file annual information returns and require the Treasury Department to make such returns publicly available. The Joint Committee on Taxation has released a report describing H.R. 5443 and its effects. The Ways and Means Committee held a markup of the package of bills today.