Cape News

The Ways and Means Committee held its first markup session of the current Congress to consider several bipartisan bills aimed at improving the tax system for Americans. Chairman Smith emphasized that the primary focus of these legislative efforts is to prioritize American taxpayers.

During his opening statement, Smith addressed various issues tackled by the proposed bills. One such bill, introduced by Representatives Malliotakis, Kustoff, and Sewell, aims to address the problem of stolen tax refund checks. According to Smith, "This rampant theft is made even crazier by the fact that often the replacement checks sent to those who had their original refunds taken are then also stolen." The bill seeks to compel the IRS to allow taxpayers to request replacement checks via direct deposit.

Additional legislation discussed includes three bills designed to simplify tax filing and hold the IRS accountable. These proposals include enhancing the independence of employees of the National Taxpayer Advocate through a bill sponsored by Representatives Feenstra and Davis. Another bill from Representatives Feenstra and Schneider mandates that taxpayers be notified when math error authority is used on their returns, providing them 60 days to challenge adjustments.

A further measure supported by Representatives LaHood, Feenstra, Fitzpatrick, DelBene, Panetta, and Schneider updates rules regarding digital tax filings so they receive equal treatment as paper filings.

Lastly, a bill was introduced extending the statute of limitations for prosecuting COVID-era unemployment insurance benefit thefts. Smith cited figures from the Government Accountability Office estimating losses between $100 billion and $135 billion during this period. The legislation seeks to extend prosecution capabilities from five years to ten years in order "to continue going after these criminals who diverted funds from American workers."

Smith concluded his remarks reiterating: "The common thread that unites each of these bills is we are putting American taxpayers first." He expressed gratitude toward colleagues involved in drafting these bipartisan initiatives aimed at serving taxpayer interests more effectively.