H.R. 2530 — what changed
Taxpayer Transparency and Efficient Audit Act
From Introduced in House to Engrossed in House. 1 section amended and 1 added between Introduced in House and Engrossed in House.
Sec. 4 Deadline for conclusion of audits of individual taxpayers
changed
Any If any audit of a tax return of an individual by the Internal Revenue Service shall be concluded is not later than 1 year after concluded before the end of the 1-year period beginning on the date of the initiation of such audit and audit, the Internal Revenue Service shall not assess any tax with respect to which such audit relates after provide the conclusion of taxpayer a written letter explaining why such audit.audit has taken more than 1 year to complete.
Sec. 5 No additional funds authorized
addedadded No additional funds are authorized to carry out the requirements of this Act. Such requirements shall be carried out using amounts otherwise authorized or appropriated.