Intermediate Sanctions Compensatory Revenue Adjustment Act of 2003 (ISCRAA)

Summary

Intermediate Sanctions Compensatory Revenue Adjustment Act of 2003 (ISCRAA) - Amends the Internal Revenue Code to impose on the collecting attorney: (1) in each excess fee transaction a tax equal to five percent of such fee; and (2) in any case in which such tax is imposed and the excess fee involved is not corrected within the taxable period, a tax of 200 percent of the excess fee involved. Defines: (1) collecting attorney; (2) excess fee transaction; and (3) taxable period. Authorizes Tax Court declaratory judgments with respect to excise taxes on excess fee transactions.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 10 April 2003

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 10 April 2003

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• Introduced in Senate

  summary · EN · 10 April 2003

  Open at official source

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