A bill to amend the Internal Revenue Code of 1954 to provide that the revenues received under any Federal income tax amnesty program shall be used for payments to individuals who are audited but whose adjustments do not exceed certain amounts.
Reward Incentive Granted to Honest Taxpayers Act - Amends the Internal Revenue Code to establish the Tax Amnesty Revenues Trust Fund in the Treasury. Transfers to the Trust Fund amounts received pursuant to any Federal tax amnesty program.
Directs the Secretary of the Treasury to pay individuals from the Tax Amnesty Revenues Trust Fund a portion of any audit adjustments made by the Internal Revenue Service. Prohibits such payments where any part of the underpayment of tax is due to intentional disregard of rules or regulations or fraud.
Requires all such payments to be paid only out of the Trust Fund.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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