CS/HB 507: Federal Taxation

GENERAL BILL by Ways & Means Committee, Overdorf; (CO-INTRODUCERS) Bankson, Basabe, Black, Jacques, Killebrew, Maggard

Federal Taxation; Authorizes CFO to reimburse owner of small business attorney fees & costs from IRS Civil Liability Trust Fund; provides for action in court for award of attorney fees & costs, actual damages, & punitive damages when IRS is found to have committed violations; provides third party settlement organizations are required to submit information to DOR only for participating payees in this state; requires OFR to submit annual report to FSC & Legislature.

Current Bill Version Posted: 3/30/2023 05:58 PM

• Related Bills (3)

  Bill Number Subject Filed By Last Action and Location	Relationship Learn more about bill relationships
  H 509 by Overdorf Trust Funds/Internal Revenue Service Civil Liability Trust Fund/DFS Last Action: 5/5/2023 H Died in Judiciary Committee	Linked
  S 372 by Ingoglia Federal Taxation Last Action: 5/5/2023 S Died in Judiciary	Similar
  S 374 by Ingoglia Internal Revenue Service Civil Liability Trust Fund Last Action: 5/5/2023 S Died in Judiciary	Compare

• Citations - Statute (4)

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  17.45		Page 2 (pdf)
  72.042		Page 4 (pdf)
  212.134	Information returns relating to payment-card and third-party network transactions.	Page 6 (pdf)
  655.045	Examinations, reports, and internal audits; penalty.	Page 8 (pdf)

• Bill History

  S = Senate, H = House

  1/24/2023	H	• Filed
  2/1/2023	H	• Referred to Ways & Means Committee • Referred to Judiciary Committee • Referred to Appropriations Committee • Now in Ways & Means Committee
  3/7/2023	H	• 1st Reading (Original Filed Version)
  3/28/2023	H	• Added to Ways & Means Committee agenda
  3/30/2023	H	• Favorable with CS by Ways & Means Committee • Reported out of Ways & Means Committee • Laid on Table under Rule 7.18(a) • CS Filed
  3/31/2023	H	• Referred to Judiciary Committee • Referred to Appropriations Committee • Now in Judiciary Committee • 1st Reading (Committee Substitute 1)
  5/5/2023	H	• Died in Judiciary Committee