Taxpayer Fairness Fund Act of 2020

I 116TH CONGRESS 2D SESSION H. R. 7648 To amend the Internal Revenue Code of 1986 to allow for contributions to a Taxpayer Fairness Fund, and for other purposes. IN THE HOUSE OF REPRESENTATIVES JULY 16, 2020 Ms. MOORE introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to allow for contributions to a Taxpayer Fairness Fund, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Taxpayer Fairness 4 Fund Act of 2020’’. 5 SEC. 2. DESIGNATION OF OVERPAYMENTS AS CONTRIBU- 6 TIONS TO TAXPAYER FAIRNESS FUND. 7 (a) IN GENERAL.—Subchapter A of chapter 61 of the 8 Internal Revenue Code of 1986 is amended by adding at 9 the end the following new part: 10 VerDate Sep 11 2014 05:47 Aug 05, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H7648.IH H7648 kjohnson on DSK79L0C42PROD with BILLS 2 •HR 7648 IH ‘‘PART IX—DESIGNATION OF OVERPAYMENTS AS 1 CONTRIBUTIONS TO TAXPAYER FAIRNESS FUND 2 ‘‘Sec. 6097. Designation to Taxpayer Fairness Fund. ‘‘SEC. 6097. DESIGNATION TO TAXPAYER FAIRNESS FUND. 3 ‘‘(a) IN GENERAL.—Every individual (other than a 4 nonresident alien) who is not a recipient of the Earned 5 Income Tax Credit, the Child Tax Credit, or the American 6 Opportunity Tax Credit and who makes a return of the 7 tax imposed by subtitle A for any taxable year may des- 8 ignate that $5 of the amount of any overpayment of tax 9 for such taxable year shall be paid over to the Taxpayer 10 Fairness Fund in accordance with the provisions of section 11 9512. In the case of a joint return, each spouse may des- 12 ignate that $5 shall be paid to the fund. 13 ‘‘(b) MANNER AND TIME OF DESIGNATION.—A des- 14 ignation under subsection (a) may be made with respect 15 to any taxable year— 16 ‘‘(1) at the time of filing the return of the tax 17 imposed by chapter 1 for such taxable year, or 18 ‘‘(2) at any other time (after the time of filing 19 the return of the tax imposed by chapter 1 for such 20 taxable year) specified in regulations prescribed by 21 the Secretary. 22 Such designation shall be made in such manner as the 23 Secretary prescribes by regulations except that such des- 24 VerDate Sep 11 2014 05:47 Aug 05, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H7648.IH H7648 kjohnson on DSK79L0C42PROD with BILLS 3 •HR 7648 IH ignation shall be made either on the first page of the re- 1 turn or on the page bearing the taxpayer’s signature. 2 ‘‘(c) OVERPAYMENTS TREATED AS REFUNDED.—For 3 purposes of this title, any portion of an overpayment of 4 tax designated under subsection (a) shall be treated as 5 being refunded to the taxpayer as of the last date pre- 6 scribed for filing the return of tax imposed by chapter 1 7 (determined without regard to extensions).’’. 8 (b) CREATION OF TRUST FUND.—Subchapter A of 9 chapter 98 of such Code is amended by adding at the end 10 the following new section: 11 ‘‘SEC. 9512. TAXPAYER FAIRNESS FUND. 12 ‘‘(a) CREATION OF FUND.—There is established in 13 the Treasury of the United States a trust fund to be 14 known as the ‘Taxpayer Fairness Fund’ (hereinafter in 15 this section referred to as ‘the fund’), consisting of such 16 amounts as may be credited or paid to the fund as pro- 17 vided in section 6097. 18 ‘‘(b) TRANSFERS TO FUND.—There are hereby ap- 19 propriated to the fund amounts equivalent to the amounts 20 of the overpayments of tax to which designations under 21 section 6097 apply. 22 ‘‘(c) EXPENDITURES FROM FUND.—Amounts in the 23 fund shall be made available, as appropriated, to the Inter- 24 nal Revenue Service for hiring, training, and employment 25 VerDate Sep 11 2014 05:47 Aug 05, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H7648.IH H7648 kjohnson on DSK79L0C42PROD with BILLS 4 •HR 7648 IH of personnel for tax enforcement activities of the Internal 1 Revenue Service to determine and collect owed taxes 2 from— 3 ‘‘(1) individuals with annual income of 4 $500,000 or more, and 5 ‘‘(2) corporations with assets valued at $5 mil- 6 lion or more.’’. 7 (c) CLERICAL AMENDMENTS.— 8 (1) The table of parts for subchapter A of chap- 9 ter 61 of such Code is amended by adding at the 10 end the following new item: 11 ‘‘PART IX. DESIGNATION OF OVERPAYMENTS AS CONTRIBUTIONS TO TAXPAYER FAIRNESS FUND.’’. (2) The table of sections for subchapter A of 12 chapter 98 of such Code is amended by adding at 13 the end the following new item: 14 ‘‘Sec. 9512. Taxpayer Fairness Fund.’’. (d) EFFECTIVE DATE.—The amendments made by 15 this section shall apply to taxable years ending after the 16 date of the enactment of this Act. 17 Æ VerDate Sep 11 2014 05:47 Aug 05, 2020 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6301 E:\BILLS\H7648.IH H7648 kjohnson on DSK79L0C42PROD with BILLS