return originator (or the taxpayer in the case of 
online filing) and a transmitter. 
‘‘(E) TRANSMITTER.—The term ‘trans-
mitter’ includes a person who sends the elec-
tronic return data directly to the Internal Rev-
enue Service. 
‘‘(2) REFUND LOAN.—The term ‘refund loan’ 
includes any loan of money or any other thing of 
value to a taxpayer in connection with the taxpayer’s 
anticipated receipt of a Federal tax refund. Such 
term includes a loan secured by the tax refund or an 
arrangement to repay a loan from the tax refund. 
‘‘(g) REGULATIONS.— 
‘‘(1) IN
GENERAL.—The Secretary may pre-
scribe such regulations as necessary to carry out this 
subchapter. 
‘‘(2) BURDEN OF REGISTRATION.—In promul-
gating such regulations, the Secretary shall minimize 
the burden and cost on the registrant.’’. 
(b) PUBLIC AWARENESS CAMPAIGN.—The Secretary 
of the Treasury shall conduct a public information and 
consumer education campaign, utilizing paid advertising, 
to educate the public on making sound financial decisions 
with respect to refund loans (as defined by section 7529 
of the Internal Revenue Code of 1986), including— 
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(1) the need to compare the rates and fees of 
such loans with the rates and fees of conventional 
loans, 
(2) the need to compare the amount of money 
received under the loan after taking into consider-
ation such costs and fees with the total amount of 
the refund, and 
(3) where and how taxpayers may lodge com-
plaints concerning refund loan facilitators. 
(c) CLERICAL AMENDMENT.—The table of sections 
for chapter 77 is amended by adding at the end the fol-
lowing new item: 
‘‘Sec. 7530. Refund anticipation loans.’’. 
(d) EFFECTIVE DATES.— 
(1) IN GENERAL.—The amendments made by 
this section shall take effect on the date of the en-
actment of the Act. 
(2) REGULATIONS.—The regulations required 
by section 7530(g) of the Internal Revenue Code of 
1986 shall be prescribed not later than 2 years after 
the date of the enactment of this Act. 
(3) FULL IMPLEMENTATION.—The Secretary of 
the Treasury, taking into consideration the com-
plexity and magnitude of the requirements set forth 
under this Act, may delay full implementation of the 
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regulations promulgated under such section not later 
than 5 years after the enactment of this Act. 
SEC. 6. PREPARER PENALTIES WITH RESPECT TO PREPA-
RATION OF RETURNS AND OTHER SUBMIS-
SIONS. 
(a) INCLUSION OF OTHER SUBMISSIONS IN PENALTY 
PROVISIONS.— 
(1) UNDERSTATEMENT OF TAXPAYER’S LIABIL-
ITY.— 
(A) IN GENERAL.—Section 6694 (relating 
to understatement of taxpayer’s liability by tax 
return preparer) is amended by striking ‘‘return 
or claim of refund’’ each place it appears and 
inserting ‘‘return, claim of refund, or other sub-
mission’’. 
(B) CONFORMING AMENDMENTS.—Section 
6694, as amended by paragraph (1), is amend-
ed by striking ‘‘return or claim’’ each place it 
appears and inserting ‘‘return, claim, or other 
submission’’. 
(2) OTHER ASSESSABLE PENALTIES.— 
(A) IN GENERAL.—Section 6695 (relating 
to other assessable penalties with respect to the 
preparation of tax returns for other persons) is 
amended by striking ‘‘return or claim of re-
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fund’’ each place it appears and inserting ‘‘re-
turn, claim of refund, or other submission’’. 
(B) CONFORMING AMENDMENTS.—Section 
6695, as amended by paragraph (1), is amend-
ed by striking ‘‘return or claim’’ each place it 
appears and inserting ‘‘return, claim, or other 
submission’’. 
(b) INCREASE IN CERTAIN OTHER ASSESSABLE PEN-
ALTY AMOUNTS.— 
(1) IN GENERAL.—Subsections (a), (b), and (c) 
of section 6695 (relating to other assessable pen-
alties with respect to the preparation of income tax 
returns for other persons) are each amended by 
striking ‘‘$50’’ and inserting ‘‘$1,000’’. 
(2) REMOVAL OF ANNUAL LIMITATION.—Sub-
sections (a), (b), and (c) of section 6695 are each 
amended by striking the last sentence thereof. 
(c) REVIEW BY THE TREASURY INSPECTOR GEN-
ERAL FOR TAX ADMINISTRATION.—Subparagraph (A) of 
section 7803(d)(2) is amended by striking ‘‘and’’ at the 
end of clause (iii), by striking the period at the end of 
clause (iv) and inserting ‘‘, and’’, and by adding at the 
end the following new clause: 
‘‘(v) a summary of the penalties as-
sessed and collected during the reporting 
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period under sections 6694 and 6695 and 
under the regulations promulgated under 
section 330 of title 31, United States 
Code, and a review of the procedures by 
which violations are identified and pen-
alties are assessed under those sections,’’. 
(d) ADDITIONAL CERTIFICATION
ON DOCUMENTS 
OTHER THAN RETURNS.— 
(1) IDENTIFYING NUMBER REQUIRED FOR ALL 
SUBMISSIONS
TO
THE
IRS
BY
TAX
RETURN
PRE-
PARERS.—The first sentence of paragraph (4) of 
section 6109(a) is amended by striking ‘‘return or 
claim for refund’’ and inserting ‘‘return, claim for 
refund, or other document’’. 
(2) EFFECTIVE DATE.—The amendment made 
by paragraph (1) shall apply to documents filed 
after the date of the enactment of this Act. 
(e) COORDINATION WITH SECTION 6060(a).—The 
Secretary of the Treasury shall coordinate the require-
ments under the regulations promulgated under section 
330 of title 31, United States Code, with the return re-
quirements of section 6060 of the Internal Revenue Code 
of 1986. 
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(f) EFFECTIVE DATE.—The regulations required by 
this section shall be prescribed not later than one year 
after the date of the enactment of this Act. 
SEC. 7. CLARIFICATION OF ENROLLED AGENT CREDEN-
TIALS. 
Section 330 of title 31, United States Code, as 
amended by section 4, is amended— 
(1) by redesignating subsection (e) as sub-
section (f), and 
(2) by inserting after subsection (d) the fol-
lowing new subsection: 
‘‘(e) Any enrolled agents properly licensed to practice 
as required under rules promulgated under subsection (a) 
shall be allowed to use the credentials or designation as 
‘enrolled agent’, ‘EA’, or ‘E.A.’.’’. 
SEC. 8. PUBLIC AWARENESS. 
(a) IN GENERAL.—Section 6103(k) (relating to dis-
closure of certain returns and return information for tax 
administration purposes) is amended by adding at the end 
the following new paragraph: 
‘‘(10) DISCLOSURE
OF
RECOGNIZED, 
CER-
TIFIED, OR REGISTERED PERSONS; REVOCATION OF 
REGISTRATION.—The Secretary shall furnish to the 
public— 
‘‘(A) the identity of any person who— 
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‘‘(i) is an enrolled agent or is an at-
torney or certified public accountant who 
either has a power of attorney on file with 
the Internal Revenue Service or notifies 
the Internal Revenue Service of their sta-
tus as a preparer of Federal tax returns, 
‘‘(ii) is certified under section 330(d) 
of title 31, United States Code, as a tax 
return preparer, or 
‘‘(iii) is registered as a refund loan 
facilitator pursuant to section 7529, and 
‘‘(B) information as to whether or not any 
person who is otherwise suspended or disbarred 
is no longer so recognized, certified, or reg-
istered (as the case may be).’’. 
(b) EFFECTIVE DATE.—The amendment made by 
subsection (a) shall take effect not later than two years 
after the date of enactment of this Act. 
SEC. 9. IMPROVED SERVICES FOR TAXPAYERS. 
(a) IN GENERAL.—It is the sense of Congress that 
the Internal Revenue Service should within 5 years— 
(1) reduce the time between receipt of an elec-
tronically filed return and issuance of a refund, 
(2) provide free filing and preparation to low- 
income taxpayers, 
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(3) expand assistance to low-income taxpayers, 
(4) allocate resources to assist low-income tax-
payers in establishing accounts at financial institu-
tions that receive direct deposits from the United 
States Treasury, 
(5) deliver tax refunds on debit cards, prepaid 
cards, and other electronic means to assist individ-
uals that do not have access to financial accounts or 
institutions, and 
(6) establish a pilot program for mobile tax re-
turn preparation offices. 
(b) LOCATION OF SERVICE.— 
(1) IN GENERAL.—The mobile tax return filing 
offices should be located in communities that the 
Secretary determines have a high incidence of tax-
payers claiming the earned income tax credit, par-
ticularly in locations with few community volunteer 
tax preparation clinics. 
(2) INDIAN RESERVATION.—At least one mobile 
tax return filing office should be on or near an In-
dian reservation (as defined in section 168(j)(6) of 
the Internal Revenue Code of 1986). 
SEC. 10. TAXPAYER ACCESS TO FINANCIAL INSTITUTIONS. 
(a) ESTABLISHMENT OF PROGRAM.—The Secretary 
of the Treasury may award demonstration project grants 
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(including multiyear awards) to eligible entities to provide 
accounts to individuals who currently do not have an ac-
count with a financial institution. The account would be 
held in a federally insured depository institution. 
(b) PRIORITY.—Priority shall be given to demonstra-
tion project proposals that provide accounts at low or no 
cost and— 
(1) that utilize new technologies such as the 
prepaid product to expand access to financial serv-
ices, in particular for persons without bank ac-
counts, with low access to financial services, or low 
utilization of mainstream financial services, 
(2) that promote the development of new finan-
cial products and services that are adequate to im-
prove access to wealth building financial services, 
which help integrate more Americans into the finan-
cial mainstream, 
(3) that promote education for these persons 
and depository institutions concerning the avail-
ability and use of financial services for and by such 
persons, and 
(4) that include other such activities and 
projects as the Secretary may determine are con-
sistent with the purpose of this section. 
(c) ELIGIBLE ENTITIES.— 
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(1) IN GENERAL.—An entity is eligible to re-
ceive a grant under this section if such an entity 
is— 
(A) an organization described in section 
501(c)(3) of the Internal Revenue Code of 1986 
and exempt from tax under section 501(a) of 
such Code, 
(B) a federally insured depository institu-
tion, 
(C) an agency of a State or local govern-
ment, 
(D) a community development financial in-
stitution, 
(E) an Indian tribal organization, 
(F) an Alaska Native Corporation, 
(G) a Native Hawaiian organization, 
(H) 
an 
organization 
described 
in 
501(c)(5), and exempt from tax under section 
501(a), of such Code, 
(I) a nonbank financial service provider, or 
(J) a partnership comprised of 1 or more 
of the entities described in the preceding sub-
paragraphs. 
(2) DEFINITIONS.—For purposes of this sec-
tion— 
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(A) FEDERALLY INSURED DEPOSITORY IN-
STITUTION.—The term ‘‘federally insured de-
pository institution’’ means any insured deposi-
tory institution (as defined in section 3 of the 
Federal Deposit Insurance Act (12 U.S.C. 
1813)) and any insured credit union (as defined 
in section 101 of the Federal Credit Union Act 
(12 U.S.C. 1752)). 
(B) COMMUNITY
DEVELOPMENT
FINAN-
CIAL INSTITUTION.—The term ‘‘community de-
velopment financial institution’’ means any or-
ganization that has been certified as such pur-
suant to section 1805.201 of title 12, Code of 
Federal Regulations. 
(C) ALASKA NATIVE CORPORATION.—The 
term ‘‘Alaska Native Corporation’’ has the 
same meaning as the term ‘‘Native Corpora-
tion’’ under section 3(m) of the Alaska Native 
Claims Settlement Act (43 U.S.C. 1602(m)). 
(D) NATIVE HAWAIIAN ORGANIZATION.— 
The term ‘‘Native Hawaiian organization’’ 
means any organization that— 
(i) serves and represents the interests 
of Native Hawaiians, and 
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(ii) has as a primary and stated pur-
pose the provision of services to Native 
Hawaiians. 
(E) LABOR
ORGANIZATION.—The term 
‘‘labor organization’’ means an organization— 
(i) in which employees participate, 
(ii) which exists for the purpose, in 
whole or in part, of dealing with employers 
concerning 
grievances, 
labor 
disputes, 
wages, rates of pay, hours of employment, 
or conditions of work, and 
(iii) which is described in section 
501(c)(5) of the Internal Revenue Code of 
1986. 
(F) NONBANK
FINANCIAL
SERVICE
PRO-
VIDER.—The term ‘‘nonbank financial service 
provider’’ mean an entity that engages in finan-
cial services activities, as authorized under the 
Federal Reserve Board, 12 Code of Federal 
Regulations Part 225, Regulation Y. 
(d) APPLICATION.—An eligible entity shall submit an 
application to the Secretary of the Treasury in such form 
and containing such information as the Secretary may re-
quire. 
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(e) EVALUATION AND REPORT.—For each fiscal year 
in which a grant is awarded under this section, the Sec-
retary of the Treasury shall submit a report to Congress 
containing a description of the activities funded, amounts 
distributed, and measurable results, as appropriate and 
available. 
(f) POWER AND AUTHORITY OF THE SECRETARY.— 
(1) ASSISTANCE.—Subject to appropriations, 
the Secretary of the Treasury may provide financial 
and technical assistance to awardees for expanding 
the distribution of financial services, including 
through financial services electronic networks. 
(2) RESEARCH AND DEVELOPMENT.—The Sec-
retary of the Treasury may conduct or support such 
research and development as the Secretary considers 
appropriate in order to further the purpose of this 
section, including the collection of information about 
access to financial services. 
(3) REGULATIONS.—The Secretary of the 
Treasury is authorized to promulgate regulations to 
implement and administer the program under this 
section. 
(g) STUDY ON DELIVERY OF TAX REFUNDS.— 
(1) IN GENERAL.—The Secretary of the Treas-
ury, in consultation with the National Taxpayer Ad-
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vocate, shall conduct a study on the payment oppor-
tunities of delivering tax refunds on debit cards pre-
paid cards, and other electronic means to assist indi-
viduals that do not have access to financial accounts 
or institutions. 
(2) REPORT.—Not later than 1 year after the 
date of the enactment of this Act, the Secretary of 
the Treasury shall submit a report to Congress con-
taining the result of the study conducted under sub-
section (a). 
Æ 
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