Taxpayer Bill of Rights Act of 2008

Taxpayer Bill of Rights Act of 2008 - Amends the Internal Revenue Code to require the Secretary of the Treasury to publish a summary statement of specified taxpayer rights and obligations.

Authorizes the Secretary to: (1) make grants to provide matching funds for qualified return preparation programs that provide volunteer income tax preparation assistance to low-income taxpayers; and (2) refer such taxpayers to taxpayer clinics funded by the federal government.

Requires the Secretary to establish a system for regulating and testing federal income tax return preparers.

Requires refund loan facilitators to file annual registrations with the Secretary and to make certain disclosures to borrowers about refund anticipation loans.

Expands and increases penalties on tax return preparers for understating taxpayer liabilities.

Requires the Secretary to furnish to the public the identity of enrolled agents and registered refund loan facilitators.

Permits enrolled agents licensed to practice before the Department of the Treasury to use the designation "enrolled agent," "EA," or "E.A."

Expresses the sense of Congress that the IRS should provide certain expanded services to taxpayers.

Authorizes the Secretary to award demonstration project grants to eligible entitites to provide bank accounts to taxpayers who currently do not have an account with a financial institution.