3.0.0 1778 2023-01-11T13:27:43Z 2023-01-11T13:27:43Z House HR 2015-04-14 114 [Congressional Record Volume 161, Number 53 (Tuesday, April 14, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. BONAMICI:H.R. 1778.Congress has the power to enact this legislation pursuantto the following:1) Art. I, Sec. 8, Cl. 12) Amdt. XVI[Page H2211]]]> hsba00 Financial Services Committee House Standing Referred to 2015-04-14T14:03:30Z hswm00 Ways and Means Committee House Standing Referred to 2015-04-14T14:03:25Z Tax Refund Protection Act of 2015 114 935 S 2015-04-14 Read twice and referred to the Committee on Finance. Related bill CRS 2015-04-14 Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2015-04-14 Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2015-04-14 Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2015-04-14 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-04-14 Introduced in House IntroReferral 1000 9 Library of Congress B001278 Rep. Bonamici, Suzanne [D-OR-1] Suzanne Bonamici D OR 1 N Taxation Administrative law and regulatory procedures Business ethics Consumer Financial Protection Bureau Consumer affairs Consumer credit Department of the Treasury Fraud offenses and financial crimes Licensing and registrations Tax administration and collection, taxpayers User charges and fees Taxation 00 2015-04-14 Introduced in House 2015-06-02T18:45:51Z Tax Refund Protection Act of 2015

This bill amends the Internal Revenue Code to direct the Department of the Treasury to establish a program to license or certify and regulate tax return preparers. The program must: (1) require that the tax return preparer demonstrate good character, good reputation, necessary qualifications to enable the preparer to provide valuable service to persons as a tax return preparer, and competency; (2) require preparers to make certain disclosures relating to fees charged for tax preparation and the average amount of time expected to receive a tax refund; and (3) authorize Treasury to take enforcement action against a tax return preparer for incompetency or wrongdoing.

The bill also amends the Consumer Financial Protection Act of 2010 to require the Consumer Financial Protection Bureau (CFPB) to regulate refund anticipation payment arrangements. A refund anticipation payment arrangement is defined as an arrangement under which, in exchange for tax preparation services, a taxpayer agrees to pay a fee or interest upon receipt of a tax refund to a preparer or lender either by a direct payment to a preparer or lender or by direct deposit to a designated account. The CFPB shall require tax return preparers to provide a disclosure statement to a consumer about the arrangement and shall promulgate regulations that require preparers to comply with the disclosure requirements of the Truth in Lending Act.

Finally, the bill allows an income tax refund requested on a tax return prepared by an income tax preparer to be split between the preparer and the taxpayer and prohibits the treatment of such a split as disreputable conduct merely because the taxpayer requested such split.

]]> Tax Refund Protection Act of 2015 Display Title Tax Refund Protection Act of 2015 Official Title as Introduced To amend the Internal Revenue Code of 1986 and the Consumer Financial Protection Act of 2010 to regulate tax return preparers and refund anticipation payment arrangements, and for other purposes. Introduced in House IH Short Titles as Introduced Tax Refund Protection Act of 2015 Introduced in House 2015-04-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr1778ih/xml/BILLS-114hr1778ih.xml 2015-04-14 Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. 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.