Revenue Enhancement and Protection Program Tax Act of 1985

Summary

Revenue Enhancement and Protection Program Tax Act of 1985 - Title I: Amnesty from Criminal and Civil Penalties - Provides for a one-time amnesty from criminal and civil tax penalties for taxpayers who: (1) file a written statement with specified information concerning any underpayment of tax; (2) pay the amount of such underpayment when filing the statement; and (3) within 30 days of notification of the amount of interest payable on any tax delinquent amount, pay the full amount of such interest or deliquency. Permits installment payments of tax due in certain cases. Provides that where the taxpayer fails to pay the full amount of such interest or deliquency. Permits installment payments pays any installment that is due under the agreement pursuant to these provisions, the balance shall be due immediately. Disallows an amnesty period for a taxpayer who has made any representation in seeking amnesty which is false or fraudulent in any material respect or to which a Justice Department referral is in effect as of the time the statement for amnesty is filed. Specifies that the amnesty period shall be a three month consecutive period during 1986 chosen by the Secretary of the Treasury. Grants the amnesty treatment only to underpayments of Federal tax for taxable periods ending before January 1, 1984. Provides that no information disclosed to the Secretary of the Treasury in seeking amnesty may be disclosed or open to inspection to any State agency, body, or commission. Authorizes appropriations to the Secretary of the Treasury to provide publicity about the amnesty program. Title II: Compliance Provisions - Subtitle A: Increase in Compliance Personnel - Authorizes appropriations to the Secretary of the Treasury for revenue enforcement and compliance programs an amount equal to ten percent of the revenue attributable to the amnesty program. Authorizes appropriations for an additional 2,500 compliance personnel for the Internal Revenue Service. Subtitle B: Denial of Federal Contracts, Licenses, Etc. to Taxpayers With Tax Delinquent Accounts - Prohibits the award of any Federal contract to any person who has a tax delinquent account. Provides that no Federal business license may be issued with respect to any person who has a tax delinquent account. Requires the revocation of the Federal business license who has a tax delinquent account. Provides an exception to this rule for public health business licenses or business licenses specified in regulations issued by the Secretary of the Treasury. Subtitle C: Use of Private Collection Agencies - Permits the collection of taxes by private collection agencies. Subtitle D: Revision of Penalties - Imposes a tax penalty for: (1) failure to file information returns; (2) failure to file information statements; (3) failure to furnish required data; (4) failure to supply information on a return; and (5) filing false statements. Provides that the penalty for intentional disregard of any of the above requirements shall be ten percent of the gross proceeds or other amount required to be reported or $500, whichever is greater. Exempts the taxpayer from these penalties if the failure to comply with the provisions is due to reasonable cause and not to willful neglect. Subtitle E: Publicity on IRS Enforcement - Requires the Secretary of the Treasury to publicize the risks and consequences of noncompliance with the internal revenue laws, including seizures with respect to taxpayers owing large amounts of tax in such a way as to publicize such risks and consequences.

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1 official file

• Introduced in House

  summary · EN · 16 May 1985

  Open at official source

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