1.
(a)This Act may be cited
as the Taxpayer Assistance Act of
2010
.
(b)Amendment of
Internal Revenue Code of 1986Except as otherwise expressly provided,
whenever in this Act an amendment or repeal is expressed in terms of an
amendment to, or repeal of, a section or other provision, the reference shall
be considered to be made to a section or other provision of the Internal
Revenue Code of 1986.
(c)The table of contents of this Act is as follows:
Sec. 1. Short title, etc.
Title I—Cell Phones and Electronic Filing
Sec. 101. Removal of cellular telephones and similar
telecommunications equipment from listed property.
Sec. 102. Electronic filing exemption for religious
reasons.
Sec. 103. Accelerate interest on refunds for returns filed
electronically.
Title II—Collection
Sec. 201. Study on the effectiveness of collection
alternatives.
Sec. 202. Repeal of partial payment requirement on submissions
of offers-in-compromise.
Title III—Taxpayer Assistance and Protection
Improvements
Sec. 301. Referrals to Low-Income Taxpayer Clinics
permitted.
Sec. 302. Low-income taxpayer clinics.
Sec. 303. EITC outreach.
Sec. 304. Taxpayer notification of suspected identity
theft.
Sec. 305. Clarification of IRS unclaimed refund
authority.
Sec. 306. Study on delivery of tax refunds.
Sec. 307. Study on timely processing and use of information
returns.
Sec. 308. Study on easing the burden of in-person tax
payments.
Title IV—Revenue Provisions
Sec. 401. Expansion of bad check penalty to electronic
payments.
Sec. 402. Increase in information return penalties.
Sec. 403. Budget compliance.
<enum>I</enum><header>Cell
Phones and Electronic Filing</header>
<section commented="no" id="H54BA35223CB04280B842CF7849F12F16"><enum>101.</enum><header>Removal of
cellular telephones and similar telecommunications equipment from listed
property</header>
<subsection commented="no" id="HDE01836D63A249389774BBB90C61DF74"><enum>(a)</enum><header>In
general</header><text>Subparagraph (A) of section 280F(d)(4) (defining listed
property) is amended by adding <quote>and</quote> at the end of clause (iv), by
striking clause (v), and by redesignating clause (vi) as clause (v).</text>
</subsection><subsection commented="no" id="HCCF654A1FB7F466492A5CE14079608B3"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by subsection (a) shall apply to taxable
years beginning after December 31, 2009.</text>
</subsection></section><section id="HC7C7AE06E4FD40B1831F07ADADB4D9AD"><enum>102.</enum><header>Electronic
filing exemption for religious reasons</header><text display-inline="no-display-inline">Paragraph (3) of section 6011(e) (relating
to special rule for tax return preparers) is amended by adding at the end the
following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="H8D9C1360D5994EFD909552F6115CA215" style="OLC">
<subparagraph id="HE2402207772645748A6E5F4B43CBF043"><enum>(D)</enum><header>Exemption for
religious reasons</header><text display-inline="yes-display-inline">The
Secretary may exempt from requirements under subparagraph (A) a tax return
preparer who—</text>
<clause id="H9984CE78021B4710B0FD6CB863D2CE14"><enum>(i)</enum><text>is
a member of a recognized religious sect or division thereof, and</text>
</clause><clause id="HAB7B33784733409A925B196B8534DB06"><enum>(ii)</enum><text display-inline="yes-display-inline">is an adherent of established teachings or
tenets that do not permit the use of magnetic
media.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="HF8245417C0FA440F80F827F963CE7AF9"><enum>103.</enum><header>Accelerate
interest on refunds for returns filed electronically</header>
<subsection id="H5B6C4A724C09466DA1FB1383FFD58D74"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subsection (e) of
section 6611 (relating to disallowance of interest on certain overpayments) is
amended by adding at the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H66C11AA865FC46648B381DDECA87318F" style="OLC">
<paragraph id="H146127C94C774AEFA4BE7B7148E0B049"><enum>(4)</enum><header>Special
rule</header><text display-inline="yes-display-inline">In the case of any
individual income tax return relating to income tax filed by electronic means,
paragraph (1) shall be applied by substituting <quote>30 days</quote> for
<quote>45 days</quote> each place it
appears.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H36C24037731442B9B39EC36448BC0514"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by subsection (a) shall apply to taxable
years beginning after December 31, 2011.</text>
</subsection></section><enum>II</enum><header>Collection</header>
<section id="H19018003C5A645C9B259838A0D6C4BE4"><enum>201.</enum><header>Study on the
effectiveness of collection alternatives</header>
<subsection id="H0CA8D6F880604D34ABEB4C572156EFA6"><enum>(a)</enum><header>In
general</header><text>The Secretary of the Treasury shall conduct a study to
assess the effectiveness of collection alternatives, especially
offers-in-compromise, on long-term tax compliance. Such a study shall analyze a
group of taxpayers who applied for offers-in-compromise 5 or more years ago and
compare the amount of revenue collected from the taxpayers whose offers were
accepted with the amount of revenue collected from the taxpayers whose offers
were rejected, and compare, among the taxpayers whose offers were rejected, the
amount they offered with the amounts collected.</text>
</subsection><subsection id="HCD2481D0E91347948D285DBCB3E09C54"><enum>(b)</enum><header>Report</header><text>Not
later than 1 year after the date of enactment of this Act, the Secretary of the
Treasury shall submit a report to Congress containing the results of the study
conducted under subsection (a).</text>
</subsection></section><section id="H1DDE99BEFBA1441A8300A87004AD4CB9"><enum>202.</enum><header>Repeal of
partial payment requirement on submissions of offers-in-compromise</header>
<subsection id="H542E14AD0EBC43D0A5A0163703F6B2B4"><enum>(a)</enum><header>In
general</header><text><external-xref legal-doc="usc" parsable-cite="usc/26/7122">Section 7122</external-xref> is amended by striking
subsection (c) and by redesignating subsections (d), (e), (f), and (g) as
subsection (c), (d), (e), and (f), respectively.</text>
</subsection><subsection id="H26062E909C2D401E9A2144CF71A5D576"><enum>(b)</enum><header>Conforming
amendments</header>
<paragraph id="H108B16F0B5454E0AA47ACBCA3387403F"><enum>(1)</enum><text display-inline="yes-display-inline">Paragraph (3) of
<external-xref legal-doc="usc" parsable-cite="usc/26/7122">section
7122(d)</external-xref> is amended—</text>
<subparagraph id="HAFE29D69E61E4174BF691A5CFB0B05A0"><enum>(A)</enum><text>by inserting
<quote>and</quote> at the end of the subparagraph (A),</text>
</subparagraph><subparagraph id="H364310A487B549B5B91E64DAE532F8CA"><enum>(B)</enum><text>by striking
<quote>, and</quote> at the end of subparagraph (B) and inserting a period,
and</text>
</subparagraph><subparagraph id="H9AAD071926C74B099E81F3892AC1D153"><enum>(C)</enum><text>by striking
subparagraph (C).</text>
</subparagraph></paragraph><paragraph id="HB66E3DBD97FF45378D906C0637B738E6"><enum>(2)</enum><text>Subsection (f) of
<external-xref legal-doc="usc" parsable-cite="usc/26/6159">section
6159</external-xref> is amended by striking <quote>section 7122(e)</quote> and
inserting <quote>section 7122(d)</quote>.</text>
</paragraph></subsection><subsection id="HF01F71A150E64998B24738673882D334"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to offers
submitted after the date of the enactment of this Act.</text>
</subsection></section><enum>III</enum><header>Taxpayer
Assistance and Protection Improvements</header>
<section display-inline="no-display-inline" id="H3E8C1F2787144E5BAD1811B8A768D028" section-type="subsequent-section"><enum>301.</enum><header>Referrals to
Low-Income Taxpayer Clinics permitted</header>
<subsection id="H401AA52860C44477AAB347D28DE280A7"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subsection (c) of
<external-xref legal-doc="usc" parsable-cite="usc/26/7526">section
7526</external-xref> is amended by adding at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HE35EF9132C7C4295AD81406E6CD9511C" style="OLC">
<paragraph id="HCDD3FE6355CD4DEA98FC477B94169D1C"><enum>(6)</enum><header>Treasury
employees permitted to refer taxpayers to qualified low-income taxpayer
clinics</header><text display-inline="yes-display-inline">Notwithstanding any
other provision of law, officers and employees of the Department of the
Treasury may refer taxpayers for advice and assistance to qualified low-income
taxpayer clinics receiving funding under this
section.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HE63B33F731584E108B77D78B2AF6E506"><enum>(b)</enum><header>Effective
date</header><text display-inline="yes-display-inline">The amendment made by
this section shall apply to referrals made after the date of the enactment of
this Act.</text>
</subsection></section><section display-inline="no-display-inline" id="H75D527700D8E43DD8D3CBEC9A316FF9B" section-type="subsequent-section"><enum>302.</enum><header>Low-income taxpayer
clinics</header>
<subsection id="HB87D286393FF49C7ADEADC5888026B86"><enum>(a)</enum><header>Increase in
authorized grants</header><text display-inline="yes-display-inline">Paragraph
(1) of section 7526(c) (relating to aggregate limitation) is amended by
striking <quote>$6,000,000</quote> and inserting
<quote>$20,000,000</quote>.</text>
</subsection><subsection id="HF430F942017D4C96BE42E6ACAB78361D"><enum>(b)</enum><header>Clerical
amendment</header><text display-inline="yes-display-inline"><external-xref legal-doc="usc" parsable-cite="usc/26/7526">Section 7526(c)(5)</external-xref>
is amended by inserting <quote>qualified</quote> before
<quote>low-income</quote>.</text>
</subsection><subsection id="H02655915B4334A55AD0E7E6AA6E246AA"><enum>(c)</enum><header>Effective
Date</header><text display-inline="yes-display-inline">The amendments made by
this section shall apply with respect to grants made after the date of the
enactment of this Act.</text>
</subsection></section><section display-inline="no-display-inline" id="HA9BCFAAC198E4E13979DDCEC4D710796" section-type="subsequent-section"><enum>303.</enum><header>EITC
outreach</header>
<subsection id="H4C937FC9B02D408A93F6E46B72C20285"><enum>(a)</enum><header>In
general</header><text>Section 32 (relating to earned income) is amended by
adding at the end the following new subsection:</text>
<quoted-block id="HCDFB4422E9E842109E74B210F2F2D245" style="OLC">
<subsection id="H08A792D7ABA94208B3312B6F7F722264"><enum>(n)</enum><header>Notification of
potential eligibility for credit and refund</header>
<paragraph id="HDD5A72868EA349C8865916FEF91CCA42"><enum>(1)</enum><header>In
general</header><text>To the extent possible and on an annual basis, the
Secretary shall provide to each taxpayer who—</text>
<subparagraph id="HBD8EFFA2052F4244B226A6411484C967"><enum>(A)</enum><text>for any preceding
taxable year for which credit or refund is not precluded by section 6511,
and</text>
</subparagraph><subparagraph id="HD91E33FFECC540D1945214A21E624BA7"><enum>(B)</enum><text>did not claim the
credit under subsection (a) but may be allowed such credit for any such taxable
year based on return or return information (as defined in section 6103(b))
available to the Secretary,</text>
</subparagraph><continuation-text continuation-text-level="paragraph">notice
that such taxpayer may be eligible to claim such credit and a refund for such
taxable year.</continuation-text></paragraph><paragraph id="H4D4776B98EDC4B56BD0532935F4FE9EA"><enum>(2)</enum><header>Notice</header><text>Notice
provided under paragraph (1) shall be in writing and sent to the last known
address of the
taxpayer.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HC9C2110DE0434809850E2144BCF22901"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall take effect on the
date of the enactment of this Act.</text>
</subsection></section><section display-inline="no-display-inline" id="HEF81A9BEE8EE4621B3A6B2A6FB09EA6B" section-type="subsequent-section"><enum>304.</enum><header>Taxpayer
notification of suspected identity theft</header>
<subsection id="HFA74A7627BA54917BE6C52A35C160EF3"><enum>(a)</enum><header>In
general</header><text>Chapter 77 (relating to miscellaneous provisions), as
amended by this Act, is amended by adding at the end the following new
section:</text>
<quoted-block display-inline="no-display-inline" id="H495D759CDCED4FEABFF15649327188B2" style="OLC">
<section id="H54B5CCF9C6B3406893F2DAA68928D202"><enum>7529.</enum><header>Notification
of suspected identity theft</header><text display-inline="no-display-inline">If, in the course of an investigation under
the internal revenue laws, the Secretary determines that there was or may have
been an unauthorized use of the identity of the taxpayer or a dependent of the
taxpayer, the Secretary shall, to the extent permitted by law—</text>
<paragraph id="H29238BEA4EBE4433AA144791C9BBE80C"><enum>(1)</enum><text>as soon as
practicable and without jeopardizing such investigation, notify the taxpayer of
such determination, and</text>
</paragraph><paragraph id="H38A76EF89D8447198D8EDC2B1264A2ED"><enum>(2)</enum><text>if any person is
criminally charged by indictment or information with respect to such
unauthorized use, notify such taxpayer as soon as practicable of such
charge.</text>
</paragraph></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HE1AE0F701A9847FA8EDCE276DA552AB8"><enum>(b)</enum><header>Clerical
amendment</header><text>The table of sections for
<external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/26/77">chapter 77</external-xref> is amended by
adding at the end the following new item:</text>
<quoted-block display-inline="no-display-inline" id="HA9F08C969EA64D3CA07D5DF5274D8169" style="OLC">
<toc container-level="quoted-block-container" idref="H495D759CDCED4FEABFF15649327188B2" lowest-bolded-level="division-lowest-bolded" lowest-level="section" quoted-block="no-quoted-block" regeneration="yes-regeneration">
<toc-entry idref="H54B5CCF9C6B3406893F2DAA68928D202" level="section">Sec. 7529. Notification of suspected identity
theft.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H3445B15FD0A14ABFB26B0CAB13D9B2C8"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to
determinations made after the date of the enactment of this Act.</text>
</subsection></section><section display-inline="no-display-inline" id="H609374E62EA44D22A02E037F3BFBA210" section-type="subsequent-section"><enum>305.</enum><header>Clarification of IRS
unclaimed refund authority</header><text display-inline="no-display-inline">Paragraph (1) of section 6103(m) (relating
to tax refunds) is amended by inserting <quote>, and through any other means of
mass communication,</quote> after <quote>media</quote>.</text>
</section><section id="H31016B277ED74088BF0748EFA57C0A79"><enum>306.</enum><header>Study on
delivery of tax refunds</header>
<subsection id="H65033877FDB84238B8D0FB0477C80325"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">The National Taxpayer
Advocate shall conduct a study on the feasibility of delivering tax refunds on
debit cards, prepaid cards, and other electronic means to assist individuals
that do not have access to financial accounts or institutions.</text>
</subsection><subsection id="H428E8BA441344635A9BAA12608B43FBD"><enum>(b)</enum><header>Report</header><text>Not
later than 1 year after the date of enactment of this Act, the National
Taxpayer Advocate shall submit a report to Congress containing the results of
the study conducted under subsection (a).</text>
</subsection></section><section id="HC548C6CAB5FC40A08D29F2E9F8BAD7B2"><enum>307.</enum><header>Study on timely
processing and use of information returns</header>
<subsection id="H8121210CAC2B4FDD9AD0127C7B26D850"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">The Secretary of the
Treasury shall conduct a study on the administrative and legislative changes
that would be needed to receive and process information returns before
processing income tax returns.</text>
</subsection><subsection id="HBF8D74F6E1A340E59F8864B7475F742C"><enum>(b)</enum><header>Report</header><text>Not
later than 1 year after the date of the enactment of this Act, the Secretary
shall submit a report to the Committee on Ways and Means of the House of
Representatives and the Committee on Finance of the Senate containing the
results of the study conducted under subsection (a), together with such
recommendations as the Secretary considers necessary or appropriate for
implementation of these changes.</text>
</subsection></section><section id="HC9E2DB82ADA8494B91C9333641657960"><enum>308.</enum><header>Study on easing
the burden of in-person tax payments</header>
<subsection id="HEFDBB36CFDB34571A471CC45F87FE058"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">The Secretary of the
Treasury shall conduct a study on how to reduce the number of taxpayers making
payments at IRS Taxpayer Assistance Centers. The report shall include an
analysis of—</text>
<paragraph id="H0CE3D0DF86634C6C9E304982B243E2A8"><enum>(1)</enum><text>whether the
Federal Tax Deposit Coupon (Form 8109) could be expanded so that it can be used
with all Federal tax deposits and payments, and</text>
</paragraph><paragraph id="H7C095C6DA7A048C1A654E5E99C18C6EA"><enum>(2)</enum><text>what current or
new return filing, payment, and proof of payment options could be implemented
to reduce the burden of in-person payments.</text>
</paragraph></subsection><subsection id="H628A8486FFE0452D8AB25899BA7C3125"><enum>(b)</enum><header>Report</header><text display-inline="yes-display-inline">Not later than 1 year after the date of the
enactment of this Act, the Secretary shall submit a report to the Committee on
Ways and Means of the House of Representatives and the Committee on Finance of
the Senate containing the results of the study conducted under subsection (a),
together with such recommendations as the Secretary considers necessary or
appropriate.</text>
</subsection></section><enum>IV</enum><header>Revenue
Provisions</header>
<section id="H9AC29F955DF546DABA838DA33B9EB35B"><enum>401.</enum><header>Expansion of
bad check penalty to electronic payments</header>
<subsection id="H2978E718F54043D0963CD7E964D67E34"><enum>(a)</enum><header>In
general</header><text>Section 6657 (relating to bad checks) is amended by
adding at the end the following: <quote>Except as otherwise provided by the
Secretary, any authorization of a payment by commercially acceptable means
(within the meaning of section 6311) shall be treated for purposes of this
section in the same manner as a check.</quote>.</text>
</subsection><subsection commented="no" id="H603C9E699EB94982AEE56F941B430752"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by subsection (a) shall apply to
authorizations of payments made after December 31, 2010.</text>
</subsection></section><section id="H89DE66F221D446F999F78D3E66F147D2"><enum>402.</enum><header>Increase in
information return penalties</header>
<subsection id="H633D94D665104E8F9C6D31C054CEB69A"><enum>(a)</enum><header>Failure To file
correct information returns</header>
<paragraph id="H13453721567B45AFB452ED330E2C803E"><enum>(1)</enum><header>In
general</header><text>Subsections (a)(1), (b)(1)(A), and (b)(2)(A) of section
6721 are each amended by striking <quote>$50</quote> and inserting
<quote>$100</quote>.</text>
</paragraph><paragraph id="H51D4718402C5468FBC6A71DFAC1340EA"><enum>(2)</enum><header>Aggregate annual
limitation</header><text>Subsections (a)(1), (d)(1)(A), and (e)(3)(A) of
section 6721 are each amended by striking <quote>$250,000</quote> and inserting
<quote>$1,500,000</quote>.</text>
</paragraph></subsection><subsection id="H4A95D231A0B246CA8F9A319562D59D7E"><enum>(b)</enum><header>Reduction where
correction within 30 days</header>
<paragraph id="H6A42ABDB50274865A4E1F1573B38913F"><enum>(1)</enum><header>In
general</header><text>Subparagraph (A) of
<external-xref legal-doc="usc" parsable-cite="usc/26/6721">section
6721(b)(1)</external-xref> is amended by striking <quote>$15</quote> and
inserting <quote>$30</quote>.</text>
</paragraph><paragraph id="H038596685FAE4B99A92E515E03967D6B"><enum>(2)</enum><header>Aggregate annual
limitation</header><text>Subsections (b)(1)(B) and (d)(1)(B) of section 6721
are each amended by striking <quote>$75,000</quote> and inserting
<quote>$250,000</quote>.</text>
</paragraph></subsection><subsection id="HF906AAEB8A7F44998F027611CCCD8036"><enum>(c)</enum><header>Reduction where
correction on or before August 1</header>
<paragraph id="H06F141C53C4648D5AA58BF98672EB0A4"><enum>(1)</enum><header>In
general</header><text>Subparagraph (A) of
<external-xref legal-doc="usc" parsable-cite="usc/26/6721">section
6721(b)(2)</external-xref> is amended by striking <quote>$30</quote> and
inserting <quote>$60</quote>.</text>
</paragraph><paragraph id="HE2615D62248644DDB397A3F9CD287A54"><enum>(2)</enum><header>Aggregate annual
limitation</header><text>Subsections (b)(2)(B) and (d)(1)(C) of section 6721
are each amended by striking <quote>$150,000</quote> and inserting
<quote>$500,000</quote>.</text>
</paragraph></subsection><subsection id="HE9F9636750B346B4BDA8F236C2598637"><enum>(d)</enum><header>Aggregate annual
limitations for persons with gross receipts of not more than
$5,000,000</header><text>Paragraph (1) of
<external-xref legal-doc="usc" parsable-cite="usc/26/6721">section
6721(d)</external-xref> is amended—</text>
<paragraph id="HA5E2CA14DB034F8C9031390E2BCBD9E0"><enum>(1)</enum><text>by striking
<quote>$100,000</quote> in subparagraph (A) and inserting
<quote>$500,000</quote>,</text>
</paragraph><paragraph id="HF65D2FCB495C4E4AAC9207804143EC14"><enum>(2)</enum><text>by striking
<quote>$25,000</quote> in subparagraph (B) and inserting
<quote>$75,000</quote>, and</text>
</paragraph><paragraph id="H792A1D589FD54F87B275580044A1076D"><enum>(3)</enum><text>by striking
<quote>$50,000</quote> in subparagraph (C) and inserting
<quote>$200,000</quote>.</text>
</paragraph></subsection><subsection id="H6FD23B67F73C442586A0001306F12FE2"><enum>(e)</enum><header>Penalty in case
of intentional disregard</header><text>Paragraph (2) of
<external-xref legal-doc="usc" parsable-cite="usc/26/6721">section
6721(e)</external-xref> is amended by striking <quote>$100</quote> and
inserting <quote>$250</quote>.</text>
</subsection><subsection id="H4AA36B6D9892474C93501FC8B6317EB5"><enum>(f)</enum><header>Adjustment for
inflation</header><text><external-xref legal-doc="usc" parsable-cite="usc/26/6721">Section 6721</external-xref> is amended by adding
at the end the following new subsection:</text>
<quoted-block id="HE450AFDF5A5240E7957AE14D8B8A43D2" style="OLC">
<subsection id="HDA1AA0B50C8F4C3ABE88F6BC9CFA93A1"><enum>(f)</enum><header>Adjustment for
inflation</header>
<paragraph id="H878881FB1B1246A6829A5673664AA57E"><enum>(1)</enum><header>In
general</header><text>For each fifth calendar year beginning after 2012, each
of the dollar amounts under subsections (a), (b), (d) (other than paragraph
(2)(A) thereof), and (e) shall be increased by such dollar amount multiplied by
the cost-of-living adjustment determined under section 1(f)(3) determined by
substituting <quote>calendar year 2011</quote> for <quote>calendar year
1992</quote> in subparagraph (B) thereof.</text>
</paragraph><paragraph id="H54D0EA9F8A31458087708A8CE8336761"><enum>(2)</enum><header>Rounding</header><text>If
any amount adjusted under paragraph (1)—</text>
<subparagraph id="H6715721642EB42CE9EEE8FDAB0CF7B4A"><enum>(A)</enum><text>is not less than
$75,000 and is not a multiple of $500, such amount shall be rounded to the next
lowest multiple of $500, and</text>
</subparagraph><subparagraph id="H7C40725F57CF4DA692C71A3C0B08DBFF"><enum>(B)</enum><text>is not described
in subparagraph (A) and is not a multiple of $10, such amount shall be rounded
to the next lowest multiple of
$10.</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H78F9431F15194AD8883EEA1EFD4D3B19"><enum>(g)</enum><header>Effective
date</header><text>The amendments made by this section shall apply with respect
to information returns required to be filed on or after January 1, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="H9BFD1A1BED7646A4821541E262EF7CBB" section-type="subsequent-section"><enum>403.</enum><header>Budget
compliance</header><text display-inline="no-display-inline">The budgetary
effects of this Act, for the purpose of complying with the Statutory
Pay-As-You-Go Act of 2010, shall be determined by reference to the latest
statement titled <quote>Budgetary Effects of PAYGO Legislation</quote> for this
Act, submitted for printing in the Congressional Record by the Chairman of the
Committee on the Budget of the<pagebreak></pagebreak> House of Representatives, provided
that such statement has been submitted prior to the vote on passage.</text>
</section>
Passed the House of
Representatives April 14, 2010.
Lorraine C. Miller,
Clerk.