IRS Act

This bill (S 3199, the "IRS Act") increases penalties for unauthorized disclosures of taxpayer information under the Internal Revenue Code. It directly affects individuals, tax preparers, and corporations who improperly share tax returns or return data. Key provisions double the minimum and maximum fines (from up to $5,000 to $5,000-$10,000 per disclosure) and double prison terms (from up to 5 years to up to 10 years) for violations. The changes apply to disclosures made after the bill's enactment date.