3.0.0 2345 2023-01-11T16:03:26Z 2023-01-11T16:03:26Z House H HR 2007-05-16 110 hswm00 Ways and Means Committee House Standing Referred to 2007-05-16T14:03:20Z 2007-05-16 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2007-05-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-05-16 Introduced in House IntroReferral 1000 9 Library of Congress D000399 Rep. Doggett, Lloyd [D-TX-25] LLOYD DOGGETT D TX 25 N A000210 Rep. Andrews, Robert E. [D-NJ-1] ROBERT ANDREWS D NJ E. 1 2007-05-16 True B000287 Rep. Becerra, Xavier [D-CA-31] XAVIER BECERRA D CA 31 2007-05-16 True B000410 Rep. Berman, Howard L. [D-CA-28] HOWARD BERMAN D CA L. 28 2007-05-16 True C000191 Rep. Carson, Julia [D-IN-7] JULIA CARSON D IN 7 2007-05-16 True C001061 Rep. Cleaver, Emanuel [D-MO-5] Emanuel Cleaver D MO 5 2007-05-16 True C000714 Rep. Conyers, John, Jr. [D-MI-14] JOHN CONYERS D MI 14 2007-05-16 True C000984 Rep. Cummings, Elijah E. [D-MD-7] ELIJAH CUMMINGS D MD E. 7 2007-05-16 True D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 2007-05-16 True D000191 Rep. DeFazio, Peter A. [D-OR-4] PETER DEFAZIO D OR A. 4 2007-05-16 True D000216 Rep. DeLauro, Rosa L. [D-CT-3] ROSA DELAURO D CT 3 2007-05-16 True E000288 Rep. Ellison, Keith [D-MN-5] Keith Ellison D MN 5 2007-05-16 True E000287 Rep. Emanuel, Rahm [D-IL-5] Rahm Emanuel D IL 5 2007-05-16 True F000030 Rep. Farr, Sam [D-CA-17] SAM FARR D CA 17 2007-05-16 True F000043 Rep. Fattah, Chaka [D-PA-2] CHAKA FATTAH D PA 2 2007-05-16 True F000116 Rep. Filner, Bob [D-CA-51] BOB FILNER D CA 51 2007-05-16 True F000339 Rep. Frank, Barney [D-MA-4] BARNEY FRANK D MA 4 2007-05-16 True G000410 Rep. Green, Gene [D-TX-29] GENE GREEN D TX 29 2007-05-16 True G000551 Rep. Grijalva, Raúl M. [D-AZ-7] Raúl Grijalva D AZ M. 7 2007-05-16 True H001040 Rep. Hare, Phil [D-IL-17] Phil Hare D IL 17 2007-05-16 True H000627 Rep. Hinchey, Maurice D. [D-NY-22] MAURICE HINCHEY D NY D. 22 2007-05-16 True J000032 Rep. Jackson-Lee, Sheila [D-TX-18] SHEILA JACKSON-LEE D TX 18 2007-05-16 True J000126 Rep. Johnson, Eddie Bernice [D-TX-30] EDDIE JOHNSON D TX BERNICE 30 2007-05-16 True J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2007-05-16 True K000009 Rep. Kaptur, Marcy [D-OH-9] MARCY KAPTUR D OH 9 2007-05-16 True K000336 Rep. Kucinich, Dennis J. [D-OH-10] DENNIS KUCINICH D OH J. 10 2007-05-16 True L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2007-05-16 True L000551 Rep. Lee, Barbara [D-CA-9] BARBARA LEE D CA 9 2007-05-16 True L000287 Rep. Lewis, John [D-GA-5] JOHN LEWIS D GA 5 2007-05-16 True M000087 Rep. Maloney, Carolyn B. [D-NY-14] CAROLYN MALONEY D NY B. 14 2007-05-16 True M000133 Rep. Markey, Edward J. [D-MA-7] Edward Markey D MA J. 7 2007-05-16 True M000404 Rep. McDermott, Jim [D-WA-7] JIM MCDERMOTT D WA 7 2007-05-16 True M000312 Rep. McGovern, James P. [D-MA-3] JAMES MCGOVERN D MA P. 3 2007-05-16 True M000590 Rep. McNulty, Michael R. [D-NY-21] MICHAEL MCNULTY D NY R. 21 2007-05-16 True M000725 Rep. Miller, George [D-CA-7] GEORGE MILLER D CA 7 2007-05-16 True M001168 Rep. Murphy, Patrick J. [D-PA-8] Patrick Murphy D PA J. 8 2007-05-16 True N000002 Rep. Nadler, Jerrold [D-NY-8] JERROLD NADLER D NY 8 2007-05-16 True N000179 Rep. Napolitano, Grace F. [D-CA-38] GRACE NAPOLITANO D CA F. 38 2007-05-16 True N000015 Rep. Neal, Richard E. [D-MA-2] RICHARD NEAL D MA E. 2 2007-05-16 True P000149 Rep. Payne, Donald M. [D-NJ-10] DONALD PAYNE D NJ M. 10 2007-05-16 True R000515 Rep. Rush, Bobby L. [D-IL-1] BOBBY RUSH D IL L. 1 2007-05-16 True S000030 Rep. Sanchez, Loretta [D-CA-47] LORETTA SANCHEZ D CA 47 2007-05-16 True S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2007-05-16 True S001162 Rep. Schwartz, Allyson Y. [D-PA-13] Allyson Schwartz D PA Y. 13 2007-05-16 True S000344 Rep. Sherman, Brad [D-CA-27] BRAD SHERMAN D CA 27 2007-05-16 True S000480 Rep. Slaughter, Louise McIntosh [D-NY-28] LOUISE SLAUGHTER D NY M. 28 2007-05-16 True S001153 Rep. Solis, Hilda L. [D-CA-32] HILDA SOLIS D CA L. 32 2007-05-16 True S000810 Rep. Stark, Fortney Pete [D-CA-13] PETE STARK D CA 13 2007-05-16 True S001174 Rep. Sutton, Betty [D-OH-13] Betty Sutton D OH 13 2007-05-16 True T000266 Rep. Tierney, John F. [D-MA-6] JOHN TIERNEY D MA F. 6 2007-05-16 True V000128 Rep. Van Hollen, Chris [D-MD-8] Chris Van Hollen D MD 8 2007-05-16 True W000187 Rep. Waters, Maxine [D-CA-35] MAXINE WATERS D CA 35 2007-05-16 True W000215 Rep. Waxman, Henry A. [D-CA-30] HENRY WAXMAN D CA A. 30 2007-05-16 True Taxation Accounting Administrative procedure Administrative remedies Affiliated corporations Commerce Confidential communications Corporate finance Corporate mergers Corporation taxes Debt Department of the Treasury Depreciation and amortization Dividends Evidence (Law) Finance and Financial Sector Fines (Penalties) Foreign corporations Fraud Government Operations and Politics Government paperwork Income tax Interest Law Leases Losses Profit Stockholders Stocks Subsidiary corporations Tax administration Tax consultants Tax credits Tax deductions Tax evasion Tax liens Tax penalties Tax preparers Tax returns Tax shelters Taxation of foreign income Valuation Taxation

00 2007-05-16 Introduced in House 2007-05-23T19:37:39Z Abusive Tax Shelter Shutdown and Taxpayer Accountability Act of 2007 - Amends the Internal Revenue Code to revise or add provisions relating to tax shelter activity, including provisions to: (1) define "economic substance" for purposes of evaluating tax shelter transactions; (2) increase penalties for large entities and high net-worth individuals for failure to disclose certain tax shelter transactions; (3) impose penalties for understatements of tax due to transactions lacking economic substance; (4) deny material tax advisors a claim of privilege as to the identity of a client; (5) revise standards for the penalty for understatement of tax liability by income tax return preparers and increase the penalties for such understatements; (6) revise and increase the penalties for frivolous tax submissions; (7) deny a tax deduction for interest on underpayments of tax due to nondisclosed reportable transactions and transactions lacking economic substance; (8) expand the authority of the Secretary of the Treasury to disallow certain tax benefits arising from the acquisition of corporate stock; (9) modify certain passive loss rules for controlled foreign corporations; and (10) provide a rule for the reduction in basis of corporate stock for which certain extraordinary dividends are received.

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Display Title Official Title as Introduced Introduced in House IH Short Titles as Introduced Introduced in House 2007-05-16T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr2345ih/xml/BILLS-110hr2345ih.xml 2007-05-16 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.