To amend the Internal Revenue Code of 1986 to modify the mandatory delay in making certain refunds.

Bill: 117-hr-6460
Sponsor: full_name: Rep. Pascrell, Bill, Jr. [D-NJ-9]
Introduced: 2022-01-20
Policy area: Taxation
Latest action: action_date: 2022-01-20
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2022-01-20
action_desc: Introduced in House
text: <p>This bill modifies provisions specifying the date for making refunds of the refundable portion of the child tax credit and the earned income tax credit to provide that no credit or refund of an overpayment resulting from such credits shall be made to a taxpayer before the earlier of the date on which the Internal Revenue Service completes a matching of information relevant to such credits and other wage information, or the 15th day of the second month after the close of the taxable year (i.e., February, for taxable years that are calendar years).</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 6460 IN THE HOUSE OF REPRESENTATIVES January 20, 2022 Mr. Pascrell (for himself and Mr. Neal ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to modify the mandatory delay in making certain refunds.

1. Modification of mandatory delay in making certain refunds (a) In general Section 6402(m) of the Internal Revenue Code of 1986 is amended to read as follows: (m) Earliest date for certain refunds In the case of any taxpayer allowed a credit under section 24 (by reason of subsection (d) or (i) thereof) or 32 for any taxable year, no credit or refund of an overpayment for such taxable year shall be made to such taxpayer before the earlier of— (1) the date on which the Secretary completes such matching of information relevant to such credit and relevant information filed under section 6071(c) as the Secretary determines appropriate, or (2) the 15th day of the second month following the close of such taxable year. . (b) Effective date The amendment made by this section shall apply to credits and refunds made after the date of the enactment of this Act.