A bill to provide limits on the reduction of Internal Revenue Service user fees.

Bill: 117-s-4961
Sponsor: full_name: Sen. Blackburn, Marsha [R-TN]
Introduced: 2022-09-27
Policy area: Taxation
Latest action: action_date: 2022-09-27
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2022-09-27
action_desc: Introduced in Senate
text: <p>This bill provides for a limit, through 2025, on the reduction of Internal Revenue Service user fees (e.g., fees for requests for ruling letters, opinion letters, and determination letters). Any reduced fee may not exceed 5% of the lowest fee charged for a taxpayer whose gross income is $5 million or more in a taxable year.</p>

tv_txt: II 117th CONGRESS 2d Session S. 4961 IN THE SENATE OF THE UNITED STATES September 27, 2022 Mrs. Blackburn introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To provide limits on the reduction of Internal Revenue Service user fees.

1. Reduced user fees (a) Amendments Section 7528(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (5) Rules relating to reduced fees (A) In general Any fee as reduced under paragraph (2)(A) shall not exceed 5 percent of the lowest fee charged under this subsection for any non-qualified person. (B) Applicability (i) In general The Secretary shall provide for a reduced fee under paragraph (2)(A) only for persons who are not non-qualified persons. (ii) Non-qualified person For purposes of this paragraph, with respect to any taxable year, the term non-qualified person means any person whose gross income for the taxable year is $5,000,000 or more. (C) Adjustment for Inflation (i) In general In the case of a taxable year beginning after December 31, 2022, the $5,000,000 amount in subparagraph (B) shall be increased by an amount equal to— (I) such amount, multiplied by (II) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting 2021 for 2016 in subparagraph (A)(ii) thereof. (ii) Rounding If any amount as adjusted under clause (i) is not a multiple of $10,000, such amount shall be rounded to the nearest multiple of $10,000. (D) Termination This paragraph shall not apply to any taxable year beginning after December 31, 2025. . (b) Effective date The amendments made by this section shall apply to fees charged after the date of the enactment of this Act.