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To amend the Internal Revenue Code of 1986 to modify the penalty on the understatement of taxpayer's liability by tax return preparers.
Other Bill Titles (1 more) 12/6/2007--Introduced.
Amends the Internal Revenue Code to modify the standards for imposing penalties on tax return preparers for understatements of tax to require:
(1) substantial authority for a position with respect to an item on a tax return if such position was not d... moreSee Full Bill Text
Committees
Amendments
This bill has no amendments.
Bill Status
| Introduced |  | Voted on by House | | Voted on by Senate | | Considered By President | | Bill Becomes Law |
| December 06, 2007 |
In the News
December 13, 2007 AICPA Applauds Legislation to Restore CPA Tax Preparers as ...
Crowley’s bill, HR 4318, would restore the role of CPAs as advocates for taxpayers by equalizing the IRS tax return reporting standards for preparers and ...
December 09, 2007 House Introduces Bill to Modify Preparer Penalty
The bill, HR 4318, was introduced by Joe Crowley, DN.Y., and co-sponsored by Jim Ramstad, R-Minn. The bill fixes a provision added to emergency spending ...
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Blog Coverage
June 15, 2008 republicans face an uphill battle
peterson introduced a similar bill (hr 4318) on november 15, 2005. on october 6, 2005, rep. ron paul (r-tx) introduced a bill (hr 4004) to terminate any prohibition on the expenditure of federal funds to conduct oil and natural gas ...
Source: No Socialism.com
May 01, 2008 American Bar Association Letter to IRS Commissioner Shulman and ...
American Bar Association Letter to IRS Commissioner Shulman and Comments on Code Sec. 6694 Preparer Penalty. Tha ABA has proposed that when no person is primarily responsible for the overall substantive accuracy of the preparation of ...
May 01, 2008 American Bar Association Letter to IRS Commissioner Shulman and ...
These recommendations are based on the assumption that section 6694 will remain in its current form, and that proposals to modify the statute, such as the proposal embodied in HR 4318, are not enacted. That said, we believe that the ...
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