Transparency for Taxpayers Act
This bill requires the Department of the Treasury to make publicly available by April 1, 2018, an online tool that allows taxpayers (other than corporations) to calculate the approximate change in taxpayer income tax liability by reason of P.L. 115-97 (commonly known as the Tax Cuts and Jobs Act).
[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4780 Introduced in House (IH)]
<DOC>
115th CONGRESS
2d Session
H. R. 4780
To direct the Secretary of the Treasury to make available an online tax
calculator to estimate the change in an individual's income tax
liability with respect to the amendments made by the Tax Cuts and Jobs
Act.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 11, 2018
Mr. MacArthur (for himself, Mr. Rodney Davis of Illinois, Mr. Gibbs,
Mr. Johnson of Ohio, Mr. Faso, Mr. Marshall, Mr. Garrett, Mr.
Rutherford, Mr. Davidson, Mr. Mooney of West Virginia, Mr. Bacon, and
Mr. Stivers) introduced the following bill; which was referred to the
Committee on Ways and Means
_______________________________________________________________________
A BILL
To direct the Secretary of the Treasury to make available an online tax
calculator to estimate the change in an individual's income tax
liability with respect to the amendments made by the Tax Cuts and Jobs
Act.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; FINDINGS.
(a) Short Title.--This Act may be cited as the ``Transparency for
Taxpayers Act''.
(b) Findings.--Congress finds as follows:
(1) Most businesses have professional accountants to assess
the immediate effects of the Tax Cuts and Jobs Act.
(2) Individuals have an immediate need to understand the
impact that this legislation may have on them but don't have
the same resources as large businesses to do so.
(3) It is necessary for the Internal Revenue Service to
provide individuals with a tool to help aid them in assessing
the effect tax reform will have on their personal finances.
SEC. 2. ONLINE TAX CALCULATOR TO DETERMINE CHANGE IN TAX LIABILITY
EXPECTED BY REASON OF THE TAX CUTS AND JOBS ACT.
(a) In General.--Not later than April 1, 2018, the Secretary of the
Treasury shall make publicly available an online tool that allows
taxpayers (other than corporations) to calculate the approximate change
in the income tax liability of the taxpayer by reason of Public Law
115-97 (commonly known as the ``Tax Cuts and Jobs Act'') by determining
a simplified estimate of the taxpayer's income tax liability that would
be determined for the taxpayer's taxable year beginning in 2017 if the
amendments made by Public Law 115-97 (commonly known as the ``Tax Cuts
and Jobs Act'') which apply for taxable years beginning in 2018,
applied to taxable years beginning in 2017.
(b) Items Taken Into Account in Determining Simplified Estimates.--
(1) In general.--For purposes of making simplified
estimates of income tax liability under subsection (a), the
online tool made available under such subsection shall take
into account the following factors with respect to the
taxpayer:
(A) The filing status and income of the taxpayer.
(B) The number of qualifying children and other
dependents of the taxpayer.
(C) The deductions allowable to the taxpayer for
mortgage interest, charitable contributions, medical
expenses, tuition, and State and local taxes.
(D) Such other factors as the Secretary determines
appropriate.
(2) Limitation on complexity.--In determining the factors
which are appropriate to take into account under paragraph
(1)(D), the Secretary shall ensure that the online tool is as
simple and quick to use for taxpayers as is reasonably
possible.
(3) Not applicable to business income.--Except as otherwise
determined to be feasible by the Secretary (and consistent with
the requirement of paragraph (2)), the online tool made
available under subsection (a) shall not apply with respect to
income and deductions attributable to the conduct of any trade
or business.
(c) Special Rules.--
(1) Publicity.--The Secretary shall publicize the
availability of the online tool made available under subsection
(a). Such publicity shall include notices of such tool's
availability in connection with making available individual
income tax return forms and instructions and by including a
written notice of such tool's availability with any income tax
refund mailed to an individual.
(2) Disclaimer.--The online tool made available under
subsection (a), and the publicity of such tool under paragraph
(1), shall make clear that such tool is designed to provide
simplified estimates of the income tax liability of the
taxpayer and that the taxpayer's actual income tax liability
may differ from the simplified estimates provided by the tool.
(3) References to secretary.--For purposes of this section,
the terms ``Secretary of the Treasury'' and ``Secretary'' each
mean the Secretary of the Treasury or his designee.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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