A bill to amend the Internal Revenue Code of 1954 to restrict the authority for inspection of tax returns and the disclosure of information contained therein.

Provides that tax returns are confidential, and therefore, are not open to inspection, and that information contained in them shall not be disclosed.

Permits, under regulations established by the Commissioner of the Internal Revenue Service, the inspection of tax returns by the taxpayer, the Internal Revenue Service, the Justice Department, State tax authorities, the President, and the Joint Committee on Internal Revenue Taxation.

Establishes criminal penalties for unauthorized disclosure or receipt of tax return information.