Simplify, Don’t Amplify the IRS Act

This bill modifies several IRS reporting and enforcement provisions. It raises the gross receipts threshold requiring organizations to report to $50,000 (from $5,000), reducing reporting burdens for many small organizations. The bill also increases penalties for unauthorized disclosure of taxpayer information to $250,000, restricts IRS enforcement funding until new tax gap projections are published, and establishes a fellowship program to recruit private sector tax experts for IRS audit task forces. Additionally, it requires the IRS to set annual targets for reducing improper tax payments and publish annual reports on these efforts.