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Taxpayer and Fairness Protection Act of 2003

Introduced: April 8, 2003 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 8, 2003

Referred to the House Committee on Ways and Means.

Apr 8, 2003

Introduced in House

Plain-English summary Congressional Research Service

Taxpayer and Fairness Protection Act of 2003 - Amends the Internal Revenue Code to revise various abusive tax shelter provisions, including: (1) clarification of the economic substance doctrine; and (2) imposition of new, and revision of existing, tax shelter-related penalties.

Provides for the prevention of corporate expatriation to avoid U.S. income tax.

Revises provisions respecting: (1) the earned income tax credit; (2) specified penalties and interest, including estimated tax penalty and interest; (3) collection procedures; (4) Internal Revenue Service (IRS) employee misconduct; (5) Tax Court authority and jurisdiction; (6) family business; (6) suspension of tax-exempt status for terrorist organizations; (7) confidentiality and disclosure; and (8) IRS user fees.

Authorizes grants for low-income return preparation clinics.

Amends the Temporary Extended Unemployment Compensation Act of 2002 with respect to the applicability of Federal-State unemployment assistance agreements.

What's happening now April 8, 2003

Referred to the House Committee on Ways and Means.

Committees of jurisdiction 1