Taxpayer Notification and Privacy Act of 2025

This bill requires the IRS to provide taxpayers with specific details before contacting third parties (like banks or employers) about their financial information. It mandates that notices must clearly list each item of information sought from third parties, and gives taxpayers a minimum 45-day window to respond with that information before the IRS contacts others. The bill applies to IRS notices under Section 7602(c) of the Internal Revenue Code and directly affects taxpayers and third-party entities holding financial records. An exception allows the IRS to bypass these requirements if it determines third-party information is necessary regardless of taxpayer availability. The changes take effect 12 months after the bill becomes law.