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United States · Bill · HR

H.R. 4318 (110th)

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

referredUnited States· United States Congress· EN

Introduced

6 December 2007

Last action

6 December 2007 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Crowley, Joseph [D-NY-14], Rep. Ramstad, Jim [R-MN-3], Rep. Lewis, John [D-GA-5], Rep. Campbell, John [R-CA-48], Rep. Conaway, K. Michael [R-TX-11], Rep. Westmoreland, Lynn A. [R-GA-3], Rep. Tanner, John S. [D-TN-8], Rep. English, Phil [R-PA-3], Rep. Walsh, James T. [R-NY-25], Rep. Duncan, John J., Jr. [R-TN-2], Rep. Wamp, Zach [R-TN-3], Rep. Lewis, Ron [R-KY-2], Rep. Johnson, Sam [R-TX-3], Rep. Boyd, Allen [D-FL-2], Rep. McDermott, Jim [D-WA-7], Rep. McIntyre, Mike [D-NC-7], Rep. Kuhl, John R. "Randy", Jr. [R-NY-29], Rep. Sali, Bill [R-ID-1], Rep. Herger, Wally [R-CA-2], Rep. Camp, Dave [R-MI-4], Rep. Cubin, Barbara [R-WY-At Large], Rep. Granger, Kay [R-TX-12], Rep. Terry, Lee [R-NE-2], Rep. Kind, Ron [D-WI-3], Rep. Becerra, Xavier [D-CA-34], Sen. Murphy, Christopher [D-CT], Rep. Davis, Geoff [R-KY-4], Rep. LaTourette, Steven C. [R-OH-14], Rep. Pomeroy, Earl [D-ND-At Large], Sen. Boozman, John [R-AR], Rep. McCarthy, Kevin [R-CA-22], Rep. Hobson, David L. [R-OH-7], Rep. Schmidt, Jean [R-OH-2], Rep. Jones, Walter B., Jr. [R-NC-3], Rep. Shays, Christopher [R-CT-4], Rep. Pryce, Deborah [R-OH-15], Rep. Cantor, Eric [R-VA-7], Rep. Carson, André [D-IN-7], Rep. Chabot, Steve [R-OH-1], Rep. Turner, Michael R. [R-OH-10], Rep. Altmire, Jason [D-PA-4], Rep. Nunes, Devin [R-CA-22], Rep. Jordan, Jim [R-OH-4], Rep. Capuano, Michael E. [D-MA-8], Rep. Larson, John B. [D-CT-1], Rep. Mahoney, Tim [D-FL-16], Rep. Abercrombie, Neil [D-HI-1], Rep. Bachmann, Michele [R-MN-6]

Subjects

Taxation

Source updated

5 December 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 6 December 2007

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 6 December 2007

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 6 December 2007

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 6 December 2007

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  • Introduced in House (PDF)

    Introduced in House · EN · 6 December 2007

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  • Introduced in House

    summary · EN · 6 December 2007

    Open at official source

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Sponsors

Showing 48 of 51 sponsors and actors.

Related records

Sources

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