Summary: Economic Stimulus, Tax Credit Act of 2012 - Directs the Secretary of Commerce to establish a debit card stimulus program for issuing pre-loaded six-month debit cards to eligible taxpayers. Prescribes the amount on the debit card to be the sum of: (1) $5,000 for a taxpayer who filed a joint income tax return for the first taxable year beginning in 2011; (2) $3,000 for a taxpayer who filed an individual income tax return for the same taxable year; plus (3) $500, but only if the taxpayer uses the debit card to acquire a new U.S.-manufactured passenger automobile by way of an 18-month lease (renewable at the lessee's option). Limits a debit card to taxpaying U.S. citizens whose gross income does not exceed $50,000 ($75,000 for those filing joint returns), plus a phaseout amount calculated according to a specified formula. Excludes individuals claimed as dependents on another taxpayer's income tax return. Allows use of the debit card to purchase durable goods, clothes, services (other than medical and business-related legal services) performed within the United States, and the residential home mortgage payments of a debtor at least three months in arrears. Prohibits the use of a debit card for any purchase of a good or service, or the acquisition of a passenger automobile under a lease, if its cost is greater than the amount provided under the debit card stimulus program. Prescribes certain other restrictions on the use of a debit card. Allows an income tax employee retention credit to an employer of any qualified retained employee: (1) whose hiring date with the employer follows the beginning of the debit card stimulus program and who first begins work before the end of the program; and (2) who, without a break in service, performs services in the United States for the employer for the six months following the end of the debit card stimulus program (employee retention period). Sets the amount of an employee retention credit at the excess (if any) of: (1) $3,000 multiplied by the number of qualified retained employees, minus (2) $3,000 multiplied by the number of specified dismissed employees. Makes available to carry out this Act any funds made available to the Department of Defense (DOD) for Overseas Contingency Operations in excess of the amounts required by DOD for Operation Enduring Freedom because of the redeployment of members of the U.S. Armed Forces from Afghanistan.

economic stimulus tax credit act directs secretary commerce establish debit card stimulus program issuing pre loaded month debit cards eligible taxpayers prescribes debit card sum taxpayer filed joint income tax return taxable year beginning taxpayer filed individual income tax return taxable year plus taxpayer uses debit card acquire new passenger automobile way month lease renewable lessee option limits debit card citizens gross income exceed filing joint returns plus phaseout calculated according specified formula excludes individuals claimed dependents taxpayer income tax return allows use debit card purchase durable goods services medical business related legal services performed united_states residential home mortgage payments debtor months arrears prohibits use debit card purchase good service acquisition passenger automobile lease cost greater provided debit card stimulus program prescribes certain restrictions use debit card allows income tax employee retention credit employer qualified retained employee hiring date employer follows beginning debit card stimulus program begins work end program break service performs services united_states employer months following end debit card stimulus program employee retention period sets employee retention credit excess multiplied number qualified retained employees minus multiplied number specified dismissed employees makes available carry act funds available department_of_defense dod overseas contingency operations excess amounts required dod operation enduring freedom redeployment members afghanistan


Summary: Comprehensive and Fair Tax Reform Act - Expresses the sense of the Senate that Congress should: (1) simplify and shrink the tax code to reduce burdens on taxpayers and businesses, (2) eliminate wasteful tax breaks for special interests and remove corporate tax loopholes, (3) get rid of extra tax breaks for millionaires, and (4) crack down on cheaters and close the tax gap.

comprehensive fair tax reform act expresses sense senate congress simplify tax code reduce burdens taxpayers businesses eliminate wasteful tax breaks special interests remove corporate tax loopholes extra tax breaks millionaires crack close tax gap


Summary: Permanent Marriage Penalty Relief Act of 2011 - Renders inapplicable the general terminating date (i.e., December 31, 2012) of the Economic Growth and Tax Relief Reconciliation Act of 2001 to provisions of that Act that eliminate the tax effect known as the marriage penalty in the standard tax deduction, the 15% income tax bracket, and the earned income tax credit.

permanent marriage penalty relief act renders inapplicable general terminating date december economic_growth_and_tax_relief_reconciliation_act provisions act eliminate tax effect known marriage penalty standard tax deduction income tax bracket earned income tax credit


Summary: Fair Tax Act of 2011 - Repeals the income tax, employment tax, and estate and gift tax. Redesignates the Internal Revenue Code of 1986 as the Internal Revenue Code of 2011. Imposes a national sales tax on the use or consumption in the United States of taxable property or services. Sets the sales tax rate at 23% in 2013, with adjustments to the rate in subsequent years. Allows exemptions from the tax for property or services purchased for business, export, or investment purposes, and for state government functions. Sets forth rules relating to: (1) the collection and remittance of the sales tax, and (2) credits and refunds. Allows a monthly sales tax rebate for families meeting certain size and income requirements. Grants states the primary authority for the collection of sales tax revenues and the remittance of such revenues to the Treasury. Sets forth administrative provisions relating to: (1) the filing of monthly reports and payments of tax, (2) accounting methods, (3) registration of sellers of goods and services responsible for reporting sales, (4) penalties for noncompliance, and (5) collections, appeals, and taxpayer rights. Directs the Secretary of the Treasury to allocate sales tax revenues among: (1) the general revenue, (2) the old-age and survivors insurance trust fund, (3) the disability insurance trust fund, (4) the hospital insurance trust fund, and (5) the federal supplementary medical insurance trust fund. Prohibits the funding of the Internal Revenue Service (IRS) after FY2015. Establishes in the Department of the Treasury: (1) an Excise Tax Bureau to administer excise taxes not administered by the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), and (2) a Sales Tax Bureau to administer the national sales tax. Terminates the sales tax imposed by this Act if the Sixteenth Amendment to the U.S. Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this Act.

fair tax act repeals income tax employment tax estate gift tax redesignates internal revenue code internal_revenue_code imposes national sales tax use consumption united_states taxable property services sets sales tax rate adjustments rate subsequent years allows exemptions tax property services purchased business export investment purposes state government functions sets forth rules relating collection remittance sales tax credits refunds allows monthly sales tax rebate families meeting certain size income requirements grants states primary authority collection sales tax revenues remittance revenues treasury sets forth administrative provisions relating filing monthly reports payments tax accounting methods registration sellers goods services responsible reporting sales penalties noncompliance collections appeals taxpayer rights directs secretary treasury allocate sales tax revenues general revenue old age survivors insurance trust fund disability insurance trust fund hospital insurance trust fund federal supplementary medical insurance trust fund prohibits funding internal_revenue_service irs fy2015 establishes department_of_the_treasury excise_tax_bureau administer excise taxes administered explosives atf sales_tax_bureau administer national sales tax terminates sales tax imposed act sixteenth amendment authorizing income tax repealed seven years enactment act


Summary: Homeowner Tax Fairness Act of 2011- Amends the Internal Revenue Code to: (1) make permanent the standard tax deduction for real property taxes available to taxpayers who do not otherwise itemize their deductions; and (2) repeal the $500 limitation on such deduction. Makes this Act applicable to taxable years beginning after December 31, 2009.

homeowner tax fairness act amends internal revenue code permanent standard tax deduction real property taxes available taxpayers itemize deductions repeal limitation deduction makes act applicable taxable years beginning december


Summary: Amends the Internal Revenue Code to make permanent the taxpayer election to deduct state and local general sales taxes in lieu of state and local income taxes.

amends internal revenue code permanent taxpayer election deduct state local general sales taxes lieu state local income taxes


Summary: Offshoring Prevention Act - Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines "imported property income" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States. Provides for a separate application of limitations on the foreign tax credit for imported property income.

prevention act amends internal revenue code include foreign base company income purposes determining foreign trade income controlled foreign corporations imported property income defines imported property income certain exceptions income attributable property manufactured outside united_states imported sale united_states provides separate application limitations foreign tax credit imported property income


Summary: Restoring America's Competitiveness in Enterprise (RACE) Act of 2011 - Amends the Internal Revenue Code to reduce the maximum income tax rate on corporations, including personal service corporations, to 20% of taxable income over $50,000.

competitiveness enterprise race act amends internal revenue code reduce maximum income tax rate corporations including personal service corporations taxable income


Summary: Home School Opportunities Make Education Sound Act of 2011- Amends the Internal Revenue Code to allow all taxpayers, including taxpayers who do not itemize their deductions, a tax deduction for expenses relating to the home schooling of their children at the elementary or secondary school level.

sound act amends internal revenue code allow taxpayers including taxpayers itemize deductions tax deduction expenses relating home schooling children elementary secondary school level


Summary: Amends the Internal Revenue Code to treat income earned by mutual funds from interests holding certain gold, silver, platinum, or palladium bullion that are regularly traded on an established U.S. securities market as qualifying income (i.e., passed through and taxed at individual income tax rates).

amends internal revenue code treat income earned mutual funds interests holding certain gold silver platinum palladium bullion regularly traded established securities market qualifying income passed taxed individual income tax rates


Summary: Amends the Internal Revenue Code with respect to the charitable tax deduction for contributions of qualified vehicles (i.e., highway motor vehicles, boats, or airplanes) to: (1) set forth revised acknowledgment requirements for vehicles valued at $2,500 or less and vehicles valued at more than $2,500; and (2) revise the penalty for submitting a fraudulent acknowledgment.

amends internal revenue code respect charitable tax deduction contributions qualified vehicles highway motor vehicles boats airplanes set forth revised acknowledgment requirements vehicles valued vehicles valued revise penalty submitting fraudulent acknowledgment


Summary: Good Samaritan Hunger Relief Tax Incentive Extension Act of 2011- Amends the Internal Revenue Code to: (1) modify the tax deduction for charitable contributions of food inventory by limiting the reduction in such deduction to the amount by which the fair market valuation of the contributed food exceeds twice the basis of such food; and (2) make such deduction permanent.

good samaritan hunger amends internal revenue code modify tax deduction charitable contributions food inventory limiting reduction deduction fair market valuation contributed food exceeds twice basis food deduction permanent


Summary: Amends the Internal Revenue Code to extend through 2012 the 100% exclusion from gross income of gain from the sale of certain small business stock.

amends internal revenue code extend exclusion gross income gain sale certain small business stock


Summary: Tax Relief Certainty Act of 2011 - Eliminates: (1) the terminating date of the Economic Growth and Tax Relief Reconciliation Act of 2001, thus making the tax relief provisions of such Act permanent; and (2) the terminating date of the Jobs and Growth Tax Relief Reconciliation Act of 2003 applicable to reductions in the tax rate for dividend and capital gain income. Amends the Internal Revenue Code to: (1) phase-in between 2011 through 2021increases in the exemption amount for the alternative minimum tax (AMT); and (2) make permanent offsets against the AMT for certain nonrefundable tax credits. Makes permanent the repeal of the estate, gift, and generation-skipping transfer taxes for decedents dying, gifts made, and generation skipping transfers after December 31, 2009.

tax relief certainty act eliminates terminating date economic_growth_and_tax_relief_reconciliation_act making tax relief provisions act permanent terminating date jobs_and_growth_tax_relief_reconciliation_act applicable reductions tax rate dividend capital gain income amends internal revenue code phase exemption alternative minimum tax amt permanent offsets amt certain nonrefundable tax credits makes permanent repeal estate gift generation skipping transfer taxes decedents dying gifts generation skipping transfers december


Summary: Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 - Amends the Internal Revenue Code to: (1) repeal requirements for the reporting to the Internal Revenue Service (IRS) of payments of $600 or more to corporations that are not tax-exempt and of gross proceeds paid in consideration for any type of property, (2) repeal requirements for reporting payments made with respect to rental property which is not part of a trade or business, and (3) increase the limitation on recapture of excess advance payments of the tax credit for health insurance premiums.

comprehensive taxpayer protection repayment exchange subsidy overpayments act amends internal revenue code repeal requirements reporting internal_revenue_service irs payments corporations tax exempt gross proceeds paid consideration type property repeal requirements reporting payments respect rental property trade business increase limitation recapture excess advance payments tax credit health insurance premiums


Summary: Taxpayer Receipt Act - Amends the Internal Revenue Code to require the Secretary of the Treasury to provide every taxpayer who files an individual income tax return for any taxable year an itemized tax receipt showing: (1) the proportionate allocation of the taxpayer's payment in such year among major expenditure categories of the federal budget (e.g., social security, national defense, Medicare and other federal health programs, low-income assistance programs, unemployment benefits, net interest on the federal debt, and other federal programs); and (2) the amount of the federal debt at the end of the fiscal year and the amount of additional borrowing by the federal government in such fiscal year per each legal U.S. resident.

taxpayer receipt act amends internal revenue code require secretary treasury provide taxpayer files individual income tax return taxable year itemized tax receipt showing proportionate allocation taxpayer payment year major expenditure categories federal budget social security national defense medicare federal health programs low income assistance programs unemployment benefits net interest federal debt federal programs federal debt end fiscal year additional borrowing federal government fiscal year legal resident


Summary: Strengthen the Earned Income Tax Credit Act of 2011 - Amends the Internal Revenue Code to: (1) make permanent the reduction in the marriage penalty applicable to the earned income tax credit, (2) increase such tax credit for families with three or more qualifying children and for individuals with no qualifying children, (3) extend such credit to individuals at age 21 (currently age 25) who do not have a qualifying child, (4) allow such credit for certain married individuals who live apart from their spouses and file separate tax returns (abandoned spouse rule), (5) repeal provisions denying such credit for individuals with excessive investment income, and (6) increase to $500 the penalty on tax return preparers for failure to be diligent in determining eligibility for the earned income tax credit. Makes permanent provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 relating to the earned income tax credit.

strengthen earned income tax credit act amends internal revenue code permanent reduction marriage penalty applicable earned income tax credit increase tax credit families qualifying children individuals qualifying children extend credit individuals age currently age qualifying child allow credit certain married individuals live apart spouses file separate tax returns abandoned spouse rule repeal provisions denying credit individuals excessive investment income increase penalty tax return preparers failure diligent determining eligibility earned income tax credit makes permanent provisions economic_growth_and_tax_relief_reconciliation_act relating earned income tax credit


Summary: Federal Contractors Accountability Act - Amends the Internal Revenue Code to expand the 100% continuous tax levy for delinquent taxes to include payments to Medicare providers and suppliers and payments due to vendors of real property sold or leased to the federal government.

accountability act amends internal revenue code expand continuous tax levy delinquent taxes include payments medicare providers suppliers payments vendors real property sold leased federal government


Summary: Brewer's Employment and Excise Relief Act of 2011 - Amends the Internal Revenue Code to reduce the rate of the excise tax on beer produced within or imported into the United States for brewers who produce not more than 6 million barrels of beer a year.

excise relief act amends internal revenue code reduce rate excise tax beer produced imported united_states brewers produce million barrels beer year


Summary: Emergency Deficit Reduction Act - Amends the Internal Revenue Code to: (1) impose an additional 5.4% tax on individual taxpayers whose modified adjusted gross income exceeds $1 million ($2 million in the case of a joint return); (2) repeal the amortization of intangible and drilling and development costs for oil, gas, and geothermal wells; (3) repeal the percentage depletion allowance for oil and gas wells; and (4) deny a tax deduction for income attributable to the domestic production of oil, natural gas, or primary products thereof.

emergency deficit reduction act amends internal revenue code impose additional tax individual taxpayers modified adjusted gross income exceeds million million case joint return repeal amortization intangible drilling development costs oil gas geothermal wells repeal percentage depletion allowance oil gas wells deny tax deduction income attributable domestic production oil natural gas primary products thereof


Summary: Public Good IRA Rollover Act of 2011- Amends the Internal Revenue Code to exclude from gross income distributions from individual retirement accounts for certain charitable purposes.

public good ira rollover act amends internal revenue code exclude gross income distributions individual retirement accounts certain charitable purposes


Summary: Amends the Internal Revenue Code to: (1) reduce from 2% to 1.39% the excise tax rate on the net investment income of tax-exempt private foundations, and (2) repeal the 1% reduction in such tax rate for private foundations that meet certain distribution requirements.

amends internal revenue code reduce excise tax rate net investment income tax exempt private foundations repeal reduction tax rate private foundations meet certain distribution requirements


Summary: Wetlands Conservation Investment Act of 2011 - Amends the Internal Revenue Code to treat gain or loss from the sale or exchange of a mitigation bank credit by the sponsor of the mitigation bank (i.e., the wetland, stream, or other aquatic resource area that has been restored, established, enhanced, or preserved for the purpose of providing compensation for unavoidable impacts to aquatic resources) who earned such credit as the sale or exchange of a capital asset held for more than one year (thus allowing preferential tax treatment of such gain or loss). Exempts from tax withholding requirements any gain from sales of mitigation bank credits.

wetlands conservation investment act amends internal revenue code treat gain loss sale exchange mitigation bank credit sponsor mitigation bank wetland stream aquatic resource area restored established enhanced preserved purpose providing compensation unavoidable impacts aquatic resources earned credit sale exchange capital asset held year allowing preferential tax treatment gain loss exempts tax withholding requirements gain sales mitigation bank credits


Summary: Amends the Internal Revenue Code to make permanent the 15-year recovery period classification for qualified leasehold improvement, restaurant, and retail improvement property, for purposes of the depreciation tax deduction.

amends internal revenue code permanent year recovery period classification qualified leasehold improvement restaurant retail improvement property purposes depreciation tax deduction


Summary: Amends the Internal Revenue Code to make permanent the classification of certain farming business machinery and equipment as five-year property for purposes of the tax deduction for depreciation.

amends internal revenue code permanent classification certain farming business machinery equipment year property purposes tax deduction depreciation


Summary: Bipartisan Tax Fairness and Simplification Act of 2011 - Declares as the purposes of this Act to: (1) make the federal individual income tax system simpler, fairer, and more transparent; (2) reduce the income tax rate on corporations, repeal the individual and corporate alternative minimum tax (AMT), and eliminate special tax preferences; and (3) reduce the federal budget deficit. Amends the Internal Revenue Code to: (1) reduce the number of tax brackets for individual taxpayers from six to three (i.e., 15, 25, and 35%); (2) increase the standard tax deduction; (3) eliminate miscellaneous itemized tax deductions for individuals after 2011; (4) exclude from gross income 35% of certain dividend income and gain on capital assets; (5) repeal the AMT for individuals; (6) allow a new tax credit for interest on state and local bonds; (7) consolidate and revise rules for tax-exempt retirement plans and education tax credits and deductions and create tax-exempt American Dream Accounts; and (8) repeal certain income tax credits, deductions, and exclusions, including the tax deduction for punitive damages. Makes permanent specified provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 that: (1) increased the earned income, dependent care, and child tax credits; and (2) repealed limits on personal exemptions and itemized tax deductions. Requires the Internal Revenue Service (IRS), beginning on January 1, 2012, to provide taxpayers a simplified Easyfile pre-prepared income tax return and a one-page summary of federal spending on Social Security, Medicare, Medicaid, defense, and interest on the federal debt. Revises corporate and business-related taxation by: (1) imposing a flat 24% rate on the taxable income of corporations; (2) increasing the expensing allowance for depreciable assets; (3) eliminating certain corporate tax preferences, including the percentage depletion allowance; (4) modifying foreign tax credit rules applicable to certain large integrated oil companies; (5) prohibiting advance refunding of tax-exempt bonds; (6) requiring 30% withholding of certain beneficiaries of foreign accounts; and (7) allowing overseas corporations a tax deduction for dividends received in 2011 from controlled foreign corporations if such dividends are reinvested in the United States. Directs the Congressional Budget Office (CBO) to identify and report to Congress on federal direct and indirect spending on businesses. Increases civil and criminal penalties for noncompliance with information reporting and tax payment requirements. Imposes certain e-filing requirements for large organizations and certain individuals.

simplification act declares purposes act federal individual income tax system simpler transparent reduce income tax rate corporations repeal individual corporate alternative minimum tax amt eliminate special tax preferences reduce federal budget deficit amends internal revenue code reduce number tax brackets individual taxpayers increase standard tax deduction eliminate miscellaneous itemized tax deductions individuals exclude gross income certain dividend income gain capital assets repeal amt individuals allow new tax credit interest state local bonds consolidate revise rules tax exempt retirement plans education tax credits deductions create tax exempt american_dream_accounts repeal certain income tax credits deductions exclusions including tax deduction punitive damages makes permanent specified provisions economic_growth_and_tax_relief_reconciliation_act increased earned income dependent care child tax credits repealed limits personal exemptions itemized tax deductions requires internal_revenue_service irs beginning january provide taxpayers simplified pre prepared income tax return page summary federal spending social_security medicare medicaid defense interest federal debt revises corporate business related taxation imposing flat rate taxable income corporations increasing expensing allowance depreciable assets eliminating certain corporate tax preferences including percentage depletion allowance modifying foreign tax credit rules applicable certain large integrated oil companies prohibiting advance refunding tax exempt bonds requiring withholding certain beneficiaries foreign accounts allowing overseas corporations tax deduction dividends received controlled foreign corporations dividends reinvested united_states directs congressional_budget_office cbo identify report congress federal direct indirect spending businesses increases civil criminal penalties noncompliance information reporting tax payment requirements imposes certain filing requirements large organizations certain individuals


Summary: Extends the deadline for the filing of tax returns for calendar year 2010 if there is a federal government shutdown beginning after April 8, 2011, and before April 19, 2011, until no earlier than the date that is 10 calendar days after the end of such shutdown.

extends deadline filing tax returns calendar year federal government shutdown beginning april april earlier date calendar days end shutdown


Summary: Simplified, Manageable, And Responsible Tax Act or the SMART Act - Amends the Internal Revenue Code to replace the marginal income tax rates with a single rate of 17% on individual taxable income. Redefines "taxable income" to mean the amount by which wages, retirement distributions, and unemployment compensation exceed the standard deduction. Increases the basic standard deduction and includes an additional standard deduction for dependents. Includes in taxable income the taxable income of each dependent child under the age of 14. Replaces the current tax on corporations with a tax on every person engaged in a business activity equal to 17% of the business taxable income of such person. Makes the person engaged in the business activity liable for the tax, whether or not such person is an individual, a partnership, or a corporation. Imposes a tax of 17% on the value of excludable compensation provided during the year by an employer for the benefit of employees. Makes the employer liable for the tax. Repeals pension plan rules relating to : (1) non-discrimination, (2) contribution limits, and (3) restrictions on distributions. Revises rules relating to transfers of excess pension assets. Repeals: (1) the alternative minimum tax; (2) all income tax credits; (3) estate, gift, and generation-skipping transfer taxes; and (4) income tax provisions, except certain provisions relating to retirement distributions and tax-exempt organizations. Declares it not in order in the House of Representatives or the Senate, unless waived or suspended by a three-fifths vote, to consider any legislation that increases or adds an income tax rate, reduces the standard deduction, or provides any exclusion, deduction, credit, or other benefit that reduces federal revenues.

simplified manageable responsible tax act smart act amends internal revenue code replace marginal income tax rates single rate individual taxable income redefines taxable income mean wages retirement distributions unemployment compensation exceed standard deduction increases basic standard deduction includes additional standard deduction dependents includes taxable income taxable income dependent child age replaces current tax corporations tax person engaged business activity equal business taxable income person makes person engaged business activity liable tax person individual partnership corporation imposes tax value excludable compensation provided year employer benefit employees makes employer liable tax repeals pension plan rules relating non discrimination contribution limits restrictions distributions revises rules relating transfers excess pension assets repeals alternative minimum tax income tax credits estate gift generation skipping transfer taxes income tax provisions certain provisions relating retirement distributions tax exempt organizations declares order house_of_representatives senate waived suspended fifths vote consider legislation increases adds income tax rate reduces standard deduction provides exclusion deduction credit benefit reduces federal revenues


Summary: Amends the Internal Revenue Code to require all employers to file wage withholding return information on magnetic media. Allows a waiver of such requirement for employers demonstrating hardship or having five or fewer employees.

amends internal revenue code require employers file wage withholding return information magnetic media allows waiver requirement employers demonstrating hardship having fewer employees


Summary: Job Creation Through Innovation Act - Amends the Internal Revenue Code to: (1) increase and make permanent the tax credit for increasing research activities, (2) allow an increased research tax credit for manufacturers whose domestic production gross receipts are more than 50% of their total receipts, (3) make the research tax credit refundable for businesses with an average number of employees of 500 or fewer, and (4) expand the qualifying advanced energy project credit by allocating in 2011 $5 billion of grants or tax credit amounts to manufacturers of goods and components (other than for assembly of components) in the United States that are used in alternative energy projects. Amends the American Recovery and Reinvestment Tax Act of 2009 to extend the grant program for investment in renewable energy property, including renewable resources used to produce electricity and fuel cell, solar, wind, geothermal, and microturbine property, in lieu of tax credits, by extending the placed-in-service deadline for such property through 2012. Extends through September 30, 2013, the deadline for submitting grant applications for such program.

job creation innovation act amends internal revenue code increase permanent tax credit increasing research activities allow increased research tax credit manufacturers domestic production gross receipts total receipts research tax credit refundable businesses average number employees fewer expand qualifying advanced energy project credit allocating billion grants tax credit amounts manufacturers goods components assembly components united_states alternative energy projects amends american_recovery_and_reinvestment_tax_act extend grant program investment renewable energy property including renewable resources produce electricity fuel cell solar wind geothermal microturbine property lieu tax credits extending placed service deadline property extends september deadline submitting grant applications program


Summary: Transportation Access for All Americans Act - Amends the Internal Revenue Code to: (1) allow accelerated depreciation of applicable leased highway property, and (2) provide for amortization of intangibles relating to such property. Defines "applicable leased highway property" as property subject to a lease between a taxpayer and a governmental entity under which the taxpayer leases a highway and associated improvements, receives a right-of-way on public lands underlying such highway and improvements, and receives a grant of a franchise or other intangible right to receive payments relating to the operation of such highway. Prohibits private activity bond financing of applicable leased highway property.

allow accelerated depreciation applicable leased highway property provide amortization relating property defines applicable leased highway property property subject lease taxpayer governmental entity taxpayer leases highway associated improvements receives right way public lands underlying highway improvements receives grant franchise intangible right receive payments relating operation highway prohibits private activity bond financing applicable leased highway property


Summary: Tax Return Due Date Simplification and Modernization Act of 2011 - Amends the Internal Revenue Code to change tax return due dates for partnerships (from April 15 to March 15, with extensions until September 15), S corporations (from March 15 to March 31, with extensions until September 30), and C corporations (from March 15 to April 15, with extensions until October 15). Requires the Secretary of the Treasury, for taxable years beginning after December 31, 2011, to modify by regulation the due dates for extensions of tax returns for partnerships, estates, employee benefit plans, and tax-exempt organizations. Sets a due date of April 15 for the annual information return of a foreign trust with a U.S. owner and for the report of foreign bank and financial accounts (with extensions until October 15). Extends the automatic extension for corporation income tax returns from three to six months.

tax return date simplification modernization act amends internal revenue code change tax return dates partnerships april march extensions september corporations march march extensions september corporations march april extensions october requires secretary treasury taxable years beginning december modify regulation dates extensions tax returns partnerships estates employee benefit plans tax exempt organizations sets date april annual information return foreign trust owner report foreign bank financial accounts extensions october extends automatic extension corporation income tax returns months


Summary: Amends the Internal Revenue Code to increase the income tax deduction for business meals and entertainment expenses from 50% to 80% of such expenses after 2011.

amends internal revenue code increase income tax deduction business meals entertainment expenses expenses


Summary: Art and Collectibles Capital Gains Tax Treatment Parity Act - Amends the Internal Revenue Code to: (1) eliminate the 28% capital gains tax rate for collectibles, thus allowing gain from the sale of collectibles (including art works) to be taxed at the 15% tax rate applicable to other investment property; and (2) allow the creator of a literary, musical, artistic, or scholarly property a fair market value tax deduction for the donation of such property to a tax-exempt organization, if properly appraised and donated no sooner than 18 months after its creation.

art parity act amends internal revenue code eliminate capital gains tax rate collectibles allowing gain sale collectibles including art works taxed tax rate applicable investment property allow literary musical artistic scholarly property fair market value tax deduction donation property tax exempt organization properly appraised donated sooner months creation


Summary: Amends Internal Revenue Code provisions relating to the tax deduction for donations of fractional interests in tangible personal property to: (1) permit donors to claim an increased deduction based upon the market value of subsequent gifts of fractional interests, (2) extend to 20 years the period in which donors of fractional interests must contribute their entire interest in donated property, and (3) require donors of fractional interests greater than $1 million to attach a statement of value obtained from the Internal Revenue Service (IRS) to their tax returns.

amends internal revenue code provisions relating tax deduction donations fractional interests tangible personal property permit donors claim increased deduction based market value subsequent gifts fractional interests extend years period donors fractional interests contribute entire interest donated property require donors fractional interests greater million attach statement value obtained internal_revenue_service irs tax returns


Summary: Small Business Tax Equalization and Compliance Act of 2011 - Amends the Internal Revenue Code to extend the tax credit for social security taxes paid for employee cash tips to employers of cosmetologists. Requires employers of cosmetologists to report income and tips of their cosmetologist employees and to provide income and tip information to self-employed cosmetologists to whom they pay more than $600 in the taxable year. Imposes similar reporting requirements upon individuals who rent chairs to cosmetologists. Requires such employers to provide their cosmetologist employees and self-employed cosmetologists with information on the tax and tip reporting obligations of employees and self-employed individuals.

small_business_tax_equalization compliance act amends internal revenue code extend tax credit social security taxes paid employee cash tips employers cosmetologists requires employers cosmetologists report income tips cosmetologist employees provide income tip information self employed cosmetologists pay taxable year imposes similar reporting requirements individuals rent chairs cosmetologists requires employers provide cosmetologist employees self employed cosmetologists information tax tip reporting obligations employees self employed individuals


Summary: New Markets Tax Credit Extension Act of 2011 - Amends the Internal Revenue Code to: (1) extend the new markets tax credit through 2016; (2) provide for an inflation adjustment to the limitation amount for such credit after 2012; and (3) allow an offset against the alternative minimum tax (AMT) for such credit.

new_markets_tax_credit_extension_act amends internal revenue code extend new markets tax credit provide inflation adjustment limitation credit allow offset alternative minimum tax amt credit


Summary: Seniors' Tax Simplification Act of 2011 - Directs the Secretary of the Treasury to make available a new federal income tax Form 1040SR (similar to Form 1040EZ) to individuals who have turned 65 as of the close of the taxable year. Allows the form to be used even if income includes: (1) social security benefits; (2) distributions from qualified retirement plans, annuities, or other such deferred payment arrangements; (3) interest and dividends; or (4) capital gains and losses.

seniors tax simplification act directs secretary treasury available new federal income tax form 1040sr similar form 1040ez individuals turned close taxable year allows form income includes social security benefits distributions qualified retirement plans annuities deferred payment arrangements interest dividends capital gains losses


Summary: Fire Sprinkler Incentive Act of 2011 - Amends the Internal Revenue Code to allow: (1) 100% expensing in a current taxable year of the cost of an automated fire sprinkler system, as defined by this Act; and (2) accelerated depreciation (i.e., a 15-year recovery period) of such an automated fire sprinkler systems that is installed in a building where the floor of any occupiable story is greater than 75 feet above the lowest level of fire department vehicle access.

fire sprinkler incentive act amends internal revenue code allow expensing current taxable year cost automated fire sprinkler system defined act accelerated depreciation year recovery period automated fire sprinkler systems installed building floor story greater feet lowest level fire department vehicle access


Summary: Brewers Excise and Economic Relief Act of 2011 or BEER Act - Amends the Internal Revenue Code to: (1) reduce from $18 to $9 ( the pre-1991 level) the per-barrel tax on beer; and (2) allow a further reduction in such tax for brewers who produce not more than 2 million barrels annually.

brewers excise economic relief act beer act amends internal revenue code reduce pre-1991 level barrel tax beer allow reduction tax brewers produce million barrels annually


Summary: Permits any person who entered into a capital construction fund agreement (an agreement to provide replacement vessels, additional vessels, or reconstructed vessels) with respect to certain vessels operated in the fisheries of the United States to make an election to terminate the capital construction fund established under such agreement. Sets forth provisions concerning the effect of such election, including the distribution and taxation of such funds, on individuals and entities.

permits person entered capital construction fund agreement agreement provide replacement vessels additional vessels reconstructed vessels respect certain vessels operated fisheries united_states election terminate capital construction fund established agreement sets forth provisions concerning effect election including distribution taxation funds individuals entities


Summary: Taxpayer Advocacy and Government Accountability Promotion Act of 2011 or the TAX GAP Act of 2011 - Amends the Internal Revenue Code to: (1) eliminate certain payment requirements for submitting offers-in-compromise of tax liability; (2) expand requirements for electronic filing of tax returns to certain large corporations and partnerships; (3) require additional information on tax returns relating to mortgage interest; (4) expand information reporting requirements for bank accounts, non-interest bearing deposits, and electronic filings by paid tax preparers; (5) expand withholding requirements with respect to payments to contractors and extend the continuous levy to cover payments to Medicaid and Medicare providers; (6) require the heads of the Federal Bureau of Prisons and state prisons to provide detailed information to the Internal Revenue Service (IRS) on certain inmates; (7) grant the IRS access to information in the National Directory of New Hires for tax administration purposes; and (8) increase and expand criminal and civil penalties for failure to comply with tax reporting and filing requirements, including requirements for electronic filing. Authorizes the Secretary of the Treasury to make an apology payment to a taxpayer for any action or inaction by the IRS that has caused the taxpayer excess expense or undue burden. Excludes the amount of any such apology payment from taxpayer gross income. Directs the Secretary to: (1) revise Schedule C of tax form 1040 (self-employment income) to require reporting of additional gross receipts and expense information by sole proprietors, and (2) report to Congress on efforts to improve voluntary compliance by sole proprietors. Requires the Secretary to submit to Congress: (1) a report on taxpayer assistance and tax simplification, (2) comprehensive and detailed reports on a strategy for reducing the tax gap, (3) a study on revenue increases and costs with respect to tax gap legislation, and (4) reports on worker misclassification (e.g., employees classified as independent contractors).

taxpayer advocacy government accountability promotion act tax gap act amends internal revenue code eliminate certain payment requirements submitting offers compromise tax liability expand requirements electronic filing tax returns certain large corporations partnerships require additional information tax returns relating mortgage interest expand information reporting requirements bank accounts non interest bearing deposits electronic filings paid tax preparers expand withholding requirements respect payments contractors extend continuous levy cover payments medicaid medicare providers require heads federal_bureau_of_prisons state prisons provide detailed information internal_revenue_service irs certain inmates grant irs access information national_directory_of_new_hires tax administration purposes increase expand criminal civil penalties failure comply tax reporting filing requirements including requirements electronic filing authorizes secretary treasury payment taxpayer action inaction irs caused taxpayer excess expense undue burden excludes payment taxpayer gross income directs secretary revise schedule tax form self employment income require reporting additional gross receipts expense information sole proprietors report congress efforts improve voluntary compliance sole proprietors requires secretary submit congress report taxpayer assistance tax simplification comprehensive detailed reports strategy reducing tax gap study revenue increases costs respect tax gap legislation reports worker misclassification employees classified independent contractors


Summary: Stop Tax Haven Abuse Act - Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of prime money laundering concern or that impede U.S. tax enforcement. Amends the Internal Revenue Code to: (1) establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act (FATCA), (2) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes, (3) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts, (4) treat credit default swap payments sent offshore as taxable U.S. source income, (5) allow the use of tax return information to evaluate foreign financial account reports, (6) increase penalties for promoting abusive tax shelters and for aiding and abetting the understatement of tax liability, (7) prohibit tax advisor contingent fee agreements for obtaining a tax savings or benefit, and (8) impose additional requirements for third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (i.e., John Doe summons). Amends the Securities Exchange Act of 1934 to: (1) require corporations registered with the Securities and Exchange Commission (SEC) to report annually, on a country-by country basis, on employees, sales, financing, tax obligations, and tax payments; and (2) authorize a fine of up to $1 million for failure to disclose any holding or transaction involving equity or debt instruments known to involve a foreign entity that would otherwise be subject to disclosure requirements. Requires the Secretary to publish a proposed rule in the Federal Register requiring unregistered investment companies, including hedge funds or private equity funds, to establish anti-money laundering programs and submit suspicious activity reports. Extends anti-money laundering requirements to persons engaged in the business of forming new businesses or other legal entities. Requires federal banking agencies and the SEC to develop examination techniques to detect and prevent abusive tax shelter activities or the aiding or abetting of tax evasion by financial institutions. Requires the Secretary to: (1) disclose tax return information to federal financial regulators for purposes of tax shelter investigations; (2) disclose to Congress documents relating to a determination to grant, deny, revoke, or restore the tax-exempt status of an organization; and (3) expand the standards applicable to tax practitioners for issuing written advice on transactions which have a potential for tax avoidance or evasion.

stop tax haven abuse act authorizes secretary treasury impose restrictions foreign jurisdictions financial institutions operating united_states prime money laundering concern impede tax enforcement amends internal revenue code establish rebuttable presumption validity transactions institutions comply reporting requirements treat certain foreign corporations managed controlled primarily united_states domestic corporations tax purposes require tax withholding agents financial institutions report certain information beneficial owners foreign owned financial accounts treat credit default swap payments sent offshore taxable source income allow use tax return information evaluate foreign financial account reports increase penalties promoting abusive tax shelters aiding abetting understatement tax liability prohibit tax advisor contingent fee agreements obtaining tax savings benefit impose additional requirements party summonses obtain information tax investigations identify person respect liability summons issued john_doe summons amends securities_exchange_act require corporations registered securities_and_exchange_commission sec report annually country country basis employees sales financing tax obligations tax payments authorize fine million failure disclose holding transaction involving equity debt instruments known involve foreign entity subject disclosure requirements requires secretary publish proposed rule federal_register requiring unregistered investment companies including hedge funds private equity funds establish anti money laundering programs submit suspicious activity reports extends anti money laundering requirements persons engaged business forming new businesses legal entities requires federal banking agencies sec develop examination techniques detect prevent abusive tax shelter activities aiding abetting tax evasion financial institutions requires secretary disclose tax return information federal financial regulators purposes tax shelter investigations disclose congress documents relating determination grant deny revoke restore tax exempt status organization expand standards applicable tax practitioners issuing written advice transactions potential tax avoidance evasion


Summary: Tax Lien Simplification Act - Amends the Internal Revenue Code to revise procedures for the filing of federal tax liens. Direct the Secretary of the Treasury to: (1) establish and maintain a federal tax lien registry, in lieu of filing tax liens in local jurisdictions, which would be accessible to and searchable by the public through the Internet at no cost; (2) take appropriate steps to secure and prevent tampering with the data recorded in the registry; and (3) review the information in the registry to determine whether information in the registry should be excluded or protected from public viewing. Establishes the priority of a federal tax lien based upon the date and time of the filing of a notice of lien in the federal tax lien registry. Reduces the period for releasing satisfied or unenforceable tax liens from 30 to 20 days.

tax lien simplification act amends internal revenue code revise procedures filing federal tax liens direct secretary treasury establish maintain federal tax lien registry lieu filing tax liens local jurisdictions accessible searchable public internet cost appropriate steps secure prevent tampering data recorded registry review information registry determine information registry excluded protected public viewing establishes priority federal tax lien based date time filing notice lien federal tax lien registry reduces period releasing satisfied unenforceable tax liens days


Summary: Charitable Agricultural Research Act - Amends the Internal Revenue Code to: (1) allow a tax deduction for a charitable contribution to an agricultural research organization directly engaged in the continuous active conduct of agricultural research, and (2) make prohibitions against expenditures to influence legislation applicable to such organizations.

allow tax deduction charitable contribution agricultural research organization directly engaged continuous active conduct agricultural research prohibitions expenditures influence legislation applicable organizations


Summary: Energy-Efficient Cool Roof Jobs Act - Amends the Internal Revenue Code to classify any qualified energy-efficient cool roof replacement property as 20-year property for depreciation purposes.  Defines "qualified energy-efficient cool roof replacement property" as any roof system that: (1) is placed in service above conditioned or semi-heated space on an eligible commercial building during the period between the enactment of this Act and December 31, 2013, (2) has a slope equal to or less than 2:12, (3) replaces an existing roof system, and (4) includes insulation meeting specified standards and a primary roof covering that has a cool roof surface.

energy efficient cool roof jobs act amends internal revenue code classify qualified energy efficient cool roof replacement property year property depreciation purposes defines qualified energy efficient cool roof replacement property roof system placed service conditioned semi space eligible commercial building period enactment act december slope equal replaces existing roof system includes insulation meeting specified standards primary roof covering cool roof surface


Summary: Greater Research Opportunities with Tax Help Act or GROWTH Act - Amends the Internal Revenue Code to: (1) increase from 14% to 20% the rate of the tax credit for increasing research activities, (2) modify rules for calculating such credit, and (3) make such credit permanent.

greater research opportunities tax help act growth act amends internal revenue code increase rate tax credit increasing research activities modify rules calculating credit credit permanent


Summary: Real Estate Investment and Jobs Act of 2011 - Amends the Internal Revenue Code to increase from 5% to 10% the allowable ownership interest in real estate investment trust (REIT) stock for purposes of tax exemptions allowed by the Foreign Investment in Real Property Tax Act relating to foreign investment in United States real property interests.

real estate investment jobs_act amends internal revenue code increase allowable ownership interest real estate investment trust reit stock purposes tax exemptions allowed foreign_investment_in_real_property_tax_act relating foreign investment united_states real property interests


Summary: Repeals the termination date in the Jobs Growth Tax Relief Reconciliation Act of 2003 for provisions reducing individual tax rates on capital gains and dividend income.

repeals termination date jobs growth tax relief reconciliation act provisions reducing individual tax rates capital gains dividend income


Summary: Foreign Earnings Reinvestment Act - Amends the Internal Revenue Code to: (1) extend the election allowed to a domestic corporation to deduct current and accumulated dividends received from a controlled foreign corporation to the corporation's last taxable year beginning before the enactment of this Act or the first taxable year which begins during the one-year period beginning on such enactment date, (2) reduce tax rates on foreign earnings of domestic corporations that reinvest such earnings in the United States and that expand their payrolls over 2010 levels, and (3) increase the taxable income of domestic corporations that fail to maintain employment levels in the 23-month period after receiving a reduction in tax rates under this Act.

foreign earnings internal revenue code extend election allowed domestic corporation deduct current accumulated dividends received controlled foreign corporation corporation taxable year beginning enactment act taxable year begins year period beginning enactment date reduce tax rates foreign earnings domestic corporations reinvest earnings united_states expand levels increase taxable income domestic corporations fail maintain employment levels month period receiving reduction tax rates act


Summary: Economic Growth and Jobs Protection Act of 2011 - Repeals the provision of the Health Care and Education Reconciliation Act of 2010 that imposes a 3.8% tax on unearned income (e.g., investment income, rents, royalties, etc.).

economic growth jobs protection act repeals provision health_care_and_education reconciliation act imposes tax unearned income investment income rents royalties etc


Summary: Withholding Tax Relief Act of 2011 - Repeals the provision of the Tax Increase Prevention and Reconciliation Act of 2005 requiring federal, state, and local governmental entities to withhold 3% of payments due to vendors providing goods and services to such entities. Amends the Internal Revenue Code to include social security benefits that are excluded from gross income in the calculation of modified adjusted gross income for purposes of determining eligibility for the tax credit for coverage under a qualified health plan.

withholding tax relief act repeals provision tax_increase_prevention_and_reconciliation_act requiring federal state local governmental entities withhold payments vendors providing goods services entities amends internal revenue code include social security benefits excluded gross income calculation modified adjusted gross income purposes determining eligibility tax credit coverage qualified health plan


Summary: Civil Rights Tax Relief Act of 2011 - Amends the Internal Revenue Code to allow: (1) an exclusion from gross income for amounts received on account of an unlawful discrimination claim, (2) income averaging for backpay and frontpay amounts received from such claims, and (3) an exemption from the alternative minimum tax (AMT) for any tax benefit resulting from the income averaging of amounts received from an unlawful discrimination claim.

civil rights tax relief act amends internal revenue code allow exclusion gross income amounts received account unlawful discrimination claim income averaging backpay amounts received claims exemption alternative minimum tax amt tax benefit resulting income averaging amounts received unlawful discrimination claim


Summary: Wall Street Trading and Speculators Tax Act - Amends the Internal Revenue Code to impose a .03% excise tax on the purchase of a security: (1) if such purchase occurs on a trading facility located in the United States, or (2) the purchaser or seller is a U.S. person. Defines "security" to include: (1) stocks, partnership interests, notes, bonds, debentures, or other evidences of indebtedness; and (2) interests in a derivative financial instrument (i.e., any option, forward contract, futures contract, notional principal contract, or any similar financial instrument). Exempts from such tax: (1) initial issues of securities; (2) any note, bond, debenture, or other evidence of indebtedness which has a fixed maturity of not more than 100 days; and (3) securities traded pursuant to certain lending arrangements.

wall street trading tax act amends internal revenue code impose excise tax purchase security purchase occurs trading facility located united_states purchaser seller person defines security include stocks partnership interests notes bonds debentures evidences indebtedness interests derivative financial instrument option forward contract futures contract notional principal contract similar financial instrument exempts tax initial issues securities note bond debenture evidence indebtedness fixed maturity days securities traded pursuant certain lending arrangements


Summary: Telecommuter Tax Fairness Act of 2011 - Prohibits a state from imposing an income tax on the compensation of a nonresident individual for any period in which such individual is not physically present in or working in such state or from deeming such nonresident individual to be present in or working in such state on the grounds that: (1) such individual is present at or working at home for convenience, or (2) such individual's work at home fails any convenience of the employer test or any similar test.

tax fairness act prohibits state imposing income tax compensation nonresident individual period individual physically present working state deeming nonresident individual present working state grounds individual present working home convenience individual work home fails convenience employer test similar test


Summary: Bonus Depreciation and Small Business Expense Extension Act - Amends the Internal Revenue Code to extend for one year: (1) bonus depreciation; (2) the 100% expensing allowance for depreciable business assets; (3) the election to accelerate the alternative minimum tax (AMT) credit in lieu of bonus depreciation; and (4) the increased expensing allowance for tangible real and personal property, including computer software and leasehold, restaurant, and retail improvement property.

internal revenue code extend year bonus depreciation expensing allowance depreciable business assets election accelerate alternative minimum tax amt credit lieu bonus depreciation increased expensing allowance tangible real personal property including computer software leasehold restaurant retail improvement property


Summary: American Family Farm and Ranchland Protection Act of 2011 - Amends the Internal Revenue Code to increase to $5 million the limitation on the estate tax exclusion for land subject to a qualified conservation easement and to increase the percentage of the value of such land that is excludable.

amends internal revenue code increase million limitation estate tax exclusion land subject qualified conservation easement increase percentage value land excludable


Summary: Middle Class Tax Cut Act of 2011 - Reduces employment tax rates in calendar year 2012 (payroll tax holiday period) for both employers and employees to 3.1%.  Limits the reduction for employers to the first $5 million of wages paid by the employer in 2012. Reduces the tax rate on the first $5 million of net earning of a self-employed taxpayer. Allows nongovernmental employers a tax credit for payroll increases in the last quarter of 2011 and in 2012. Appropriates funds to the social security trust funds to compensate for any revenue loss to such funds from the reduction in rates and the tax credit allowed by this Act. Amends the Internal Revenue Code to impose on individual taxpayers in taxable years beginning after 2012 an additional tax equal to 3.25% of so much of their modified adjusted gross income as exceeds $1 million.  Defines "modified adjusted gross income" as adjusted gross income reduced by any deduction allowed for investment interest.  Provides for an inflation adjustment to the $1 million threshold amount for taxable years beginning after 2013.

middle class tax cut act reduces employment tax rates calendar year payroll tax holiday period employers employees limits reduction employers million wages paid employer reduces tax rate million net earning self employed taxpayer allows nongovernmental employers tax credit payroll increases quarter appropriates funds social security trust funds compensate revenue loss funds reduction rates tax credit allowed act amends internal revenue code impose individual taxpayers taxable years beginning additional tax equal modified adjusted gross income exceeds million defines modified adjusted gross income adjusted gross income reduced deduction allowed investment interest provides inflation adjustment million threshold taxable years beginning


Summary: Amends the Internal Revenue Code to repeal the excise tax on communication services (i.e., local telephone service, toll telephone service, and teletypewriter exchange service). Amends the Internet Tax Freedom Act to make permanent the moratorium on state and local taxation of Internet access and on multiple or discriminatory taxes on electronic commerce. Prohibits states, local governments, and private owners of airports from imposing any tax, fee, or other charge on amounts charged or retained for facilitating the booking of air transportation, hotel accommodations, car rental or other travel-related services.

amends internal revenue code repeal excise tax communication services local telephone service toll telephone service teletypewriter exchange service amends internet tax freedom act permanent moratorium state local taxation internet access multiple discriminatory taxes electronic commerce prohibits states local governments private owners airports imposing tax fee charge amounts charged retained facilitating booking air transportation hotel accommodations car rental travel related services


Summary: Middle Class Tax Cut Act of 2011 - Amends the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 to extend through 2012 the reduction in employment taxes for employees and the self-employed. Increases such reduction from 2% to 3.1% Amends the Internal Revenue Code to impose on individual taxpayers between 2012 and 2022 an additional tax equal to 1.9% of so much of their modified adjusted gross income in excess of $1 million. Provides for an inflation adjustment to the $1 million threshold amount for taxable years beginning after 2013. Defines "modified adjusted gross income" as adjusted gross income reduced by any deduction allowed for investment interest. Imposes a 50% tax (55% for a taxable year beginning in 2011 or 2012) on any unemployment compensation received by a taxpayer with an adjusted gross income of at least $1 million. Denies a tax deduction for the payment of such tax. Amends the Food and Nutrition Act of 2008 to render ineligible for the supplemental nutrition assistance program (SNAP), formerly food stamps, any household in which a member receives income or assets with a fair market value of at least $1 million. Amends the Housing and Community Development Act of 1992 to require until October 1, 2021, a phased increase in the fees charged to mortgage lenders by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to guarantee payment of new mortgage loans.

middle class tax cut act amends tax relief unemployment insurance reauthorization job creation act extend reduction employment taxes employees self employed increases reduction amends internal revenue code impose individual taxpayers additional tax equal modified adjusted gross income excess million provides inflation adjustment million threshold taxable years beginning defines modified adjusted gross income adjusted gross income reduced deduction allowed investment interest imposes tax taxable year beginning unemployment compensation received taxpayer adjusted gross income million denies tax deduction payment tax amends food_and_nutrition_act render ineligible supplemental nutrition assistance program snap food stamps household member receives income assets fair market value million amends housing_and_community_development_act require october phased increase fees charged mortgage lenders federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac guarantee payment new mortgage loans


Summary: Paying a Fair Share Act of 2012 - Amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (tentative fair share tax). Establishes the amount of such tax as the excess (if any) of the tentative fair share tax over the excess of: (1) the sum of the taxpayer's regular tax liability, the alternative minimum tax (AMT) amount, and the payroll tax for the taxable year; over (2) certain tax credits. Provides for a phase-in of such tax. Requires an inflation adjustment to the $1 million income threshold for taxable years beginning after 2013. Expresses the sense of the Senate that Congress should enact tax reform that repeals unfair and unnecessary tax loopholes and expenditures, simplifies the tax system, and makes sure that the wealthiest taxpayers pay a fair share of taxes.

paying fair share act amends internal revenue code require individual taxpayer adjusted gross income exceeds million pay minimum tax rate excess taxpayer adjusted gross income taxpayer modified charitable contribution deduction taxable year tentative fair share tax establishes tax excess tentative fair share tax excess sum taxpayer regular tax liability alternative minimum tax amt payroll tax taxable year certain tax credits provides phase tax requires inflation adjustment million income threshold taxable years beginning expresses sense senate congress enact tax reform repeals unfair unnecessary tax loopholes expenditures simplifies tax system makes sure wealthiest taxpayers pay fair share taxes


Summary: Energy Freedom and Economic Prosperity Act - Amends the Internal Revenue Code to repeal: (1) the excise tax credits for alcohol fuel, biodiesel, and alternative fuel mixtures; (2) the tax credits for the purchase of certain plug-in electric vehicles and alternative motor vehicles; (3) the alternative fuel vehicle refueling property tax credit; (4) the tax credits for alcohol used as fuel and for biodiesel and renewable diesel used as fuel; (5) the enhanced oil recovery tax credit and the tax credit for producing oil and gas from marginal wells; (6) the tax credit for carbon dioxide sequestration; (7) the energy tax credit; and (8) the tax credits for investment in qualifying advanced coal projects and qualifying gasification projects. Terminates after 2012 the tax credits for the production of electricity from certain renewable resources and from advanced nuclear power facilities. Repeals the grant program under the American Recovery and Reinvestment Act of 2009 for payments to invest in alternative and renewable energy property in lieu of tax credits. Directs the Secretary of the Treasury to reduce the corporate income tax rates by prescribing proportionate modifications to such rates based upon revenue savings resulting from the repeal of energy tax expenditures by this Act.

energy freedom economic prosperity act amends internal revenue code repeal excise tax credits alcohol fuel biodiesel alternative fuel mixtures tax credits purchase certain plug electric vehicles alternative motor vehicles alternative fuel vehicle refueling property tax credit tax credits alcohol fuel biodiesel renewable diesel fuel enhanced oil recovery tax credit tax credit producing oil gas marginal wells tax credit carbon dioxide sequestration energy tax credit tax credits investment qualifying advanced coal projects qualifying gasification projects terminates tax credits production electricity certain renewable resources advanced nuclear power facilities repeals grant program american_recovery_and_reinvestment_act payments invest alternative renewable energy property lieu tax credits directs secretary treasury reduce corporate income tax rates prescribing proportionate modifications rates based revenue savings resulting repeal energy tax expenditures act


Summary: Cut Unjustified Tax Loopholes Act or the CUT Loopholes Act - Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of primary money laundering concern or that impede U.S. tax enforcement. Amends the Internal Revenue Code to: (1) establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act; (2) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes; (3) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts; (4) treat swap payments sent offshore as taxable U.S. source income; (5) allow the use of tax return information to evaluate foreign financial account reports; (6) increase penalties for promoting abusive tax shelters and for aiding and abetting the understatement of tax liability; (7) prohibit tax advisor contingent fee agreements for obtaining a tax savings or benefit; (8) impose additional requirements for third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (i.e., John Doe summons); (9) limit the employer tax deduction for stock options granted to employees to the value of such options as recorded on the employer's books at the time such options were granted; and (10) apply the $1 million limitation on the employer tax deduction for employee remuneration to stock option compensation. Amends the Securities Exchange Act of 1934 to: (1) require corporations registered with the Securities and Exchange Commission (SEC) to report annually, on a country-by country basis, on employees, sales, financing, tax obligations, and tax payments; and (2) authorize a fine of up to $1 million for failure to disclose any holdings or transactions involving equity or debt instruments known to involve a foreign entity that would otherwise be subject to disclosure requirements. Requires the Secretary to publish a proposed rule in the Federal Register requiring private and venture capital funds to establish anti-money laundering programs and submit suspicious activity reports. Extends anti-money laundering requirements to persons engaged in the business of forming new businesses or other legal entities. Requires federal banking agencies and the SEC to develop examination techniques to detect and prevent abusive tax shelter activities or the aiding or abetting of tax evasion by financial institutions. Requires the Secretary to: (1) disclose tax return information to federal financial regulators for purposes of tax shelter investigations; (2) disclose to Congress documents relating to a determination to grant, deny, revoke, or restore the tax-exempt status of an organization; and (3) expand the standards applicable to tax practitioners for issuing written advice on transactions which have a potential for tax avoidance or evasion. Imposes new restrictions on U.S. corporations and other entities with foreign income with respect to: (1) tax deductions allocable to deferred foreign income, (2) the recalculation of foreign income taxes, (3) intangible property transferred overseas, and (4) tax evasion activities by U.S. corporations reincorporating in a foreign country.

loopholes_act cut secretary treasury impose restrictions foreign jurisdictions financial institutions operating united_states primary money laundering concern impede tax enforcement amends internal revenue code establish rebuttable presumption validity transactions institutions comply reporting requirements treat certain foreign corporations managed controlled primarily united_states domestic corporations tax purposes require tax withholding agents financial institutions report certain information beneficial owners foreign owned financial accounts treat swap payments sent offshore taxable source income allow use tax return information evaluate foreign financial account reports increase penalties promoting abusive tax shelters aiding abetting understatement tax liability prohibit tax advisor contingent fee agreements obtaining tax savings benefit impose additional requirements party summonses obtain information tax investigations identify person respect liability summons issued john_doe summons limit employer tax deduction stock options granted employees value options recorded employer books time options granted apply million limitation employer tax deduction employee remuneration stock option compensation amends securities_exchange_act require corporations registered securities_and_exchange_commission sec report annually country country basis employees sales financing tax obligations tax payments authorize fine million failure disclose holdings transactions involving equity debt instruments known involve foreign entity subject disclosure requirements requires secretary publish proposed rule federal_register requiring private venture capital funds establish anti money laundering programs submit suspicious activity reports extends anti money laundering requirements persons engaged business forming new businesses legal entities requires federal banking agencies sec develop examination techniques detect prevent abusive tax shelter activities aiding abetting tax evasion financial institutions requires secretary disclose tax return information federal financial regulators purposes tax shelter investigations disclose congress documents relating determination grant deny revoke restore tax exempt status organization expand standards applicable tax practitioners issuing written advice transactions potential tax avoidance evasion imposes new restrictions corporations entities foreign income respect tax deductions allocable deferred foreign income recalculation foreign income taxes intangible property transferred overseas tax evasion activities corporations foreign country


Summary: 1099K Overreach Prevention Act - Amends the Internal Revenue Code to exempt taxpayers who are required to report payments made in settlement of payment card and third party network transactions from any requirement to reconcile such payments to amounts related to gross receipts or sales.

overreach prevention act amends internal revenue code exempt taxpayers required report payments settlement payment card party network transactions requirement reconcile payments amounts related gross receipts sales


Summary: Social Security Preservation through Individual Choice Enhancement Act - Amends the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 to allow individual taxpayers an election to claim the 2% reduction in employment taxes under such Act in any calendar year beginning in or after 2012. Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to increase the applicable social security retirement age by one month for each calendar year that a taxpayer elects a reduction in employment taxes under this Act.

enhancement act amends tax relief unemployment insurance reauthorization job creation act allow individual taxpayers election claim reduction employment taxes act calendar year beginning amends title old age survivors disability insurance social security act increase applicable social security retirement age month calendar year taxpayer elects reduction employment taxes act


Summary: Mortgage Cancellation Relief Act of 2012 - Amends the Internal Revenue Code to allow a permanent exclusion from gross income of amounts attributable to the discharge of qualified residential indebtedness, in the case of an individual (currently, limited to principal residence indebtedness discharged before January 1, 2013). Defines "qualified residential indebtedness" to mean indebtedness, including indebtedness from refinancing, that was incurred or assumed: (1) in connection with real property used as a residence and that is secured by such real property; and (2) to acquire, construct, reconstruct, or substantially improve such property. Limits the amount of such exclusion to the excess (if any) of the outstanding principal amount of such indebtedness (immediately before the discharge) over the sum of: (1) the amount realized from the sale of such real property reduced by the cost of the sale, and (2) the outstanding principal amount of any other indebtedness secured by such property.

mortgage cancellation relief act amends internal revenue code allow permanent exclusion gross income amounts attributable discharge qualified residential indebtedness case individual currently limited principal residence indebtedness discharged january defines qualified residential indebtedness mean indebtedness including indebtedness refinancing incurred assumed connection real property residence secured real property acquire construct reconstruct substantially improve property limits exclusion excess outstanding principal indebtedness immediately discharge sum realized sale real property reduced cost sale outstanding principal indebtedness secured property


Summary: Saving the Family Farm Act of 2012 - Amends the Internal Revenue Code to exclude from the gross estate of a decedent the adjusted value of any qualified family-owned farm or business (i.e., a qualified farmland or a qualified trade or business) included in the estate. Requires: (1) the decedent to have been a citizen or resident of the United States at the time of death, (2) the decedent and members of the decedent's family to have owned not less than 60% of such farm or business in any 5-year period during the 8-year period prior to the decedent's death, and (3) material participation in the operation of the farm or business by the decedent and members of the decedent's family. Defines "qualified farmland" as any real property located in the United States that is used as a farm for farming purposes. Defines "qualified trade or business" as any interest in a trade or business that is not an interest in a C corporation and that was acquired from or passed from the decedent to an heir. Imposes a recapture tax on an heir who disposes of any interest in a qualified family-owned farm or business or who ceases to use qualified farmland for farming purposes after inheriting such property.

saving family farm act amends internal revenue code exclude gross estate decedent adjusted value qualified family owned farm business qualified farmland qualified trade business included estate requires decedent citizen resident united_states time death decedent members decedent family owned farm business year period year period prior decedent death material participation operation farm business decedent members decedent family defines qualified farmland real property located united_states farm farming purposes defines qualified trade business interest trade business interest corporation acquired passed decedent heir imposes recapture tax heir disposes interest qualified family owned farm business ceases use qualified farmland farming purposes property


Summary: Amends the Internal Revenue Code to allow decedent estates to base the value of qualified historic property on the net earnings of such property for estate and gift tax purposes. Defines "qualified historic property" as any building designated as a national historic landmark for at least 25 years prior to the death of a decedent and originally used for residential or farming purposes.

amends internal revenue code allow decedent estates base value qualified historic property net earnings property estate gift tax purposes defines qualified historic property building designated national historic years prior death decedent originally residential farming purposes


Summary: Small Business Jobs and Tax Relief Act - Amends the Internal Revenue Code to allow certain employers a tax credit for 10% of the excess (if any) of: (1) the wages and compensation paid to their employees in 2012; over (2) the amount of such wages paid in 2011, up to a maximum amount of $5 million. Extends for one year the 100% bonus depreciation allowance for business assets. Increases the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation.

tax relief act amends internal revenue code allow certain employers tax credit excess wages compensation paid employees wages paid maximum million extends year bonus depreciation allowance business assets increases alternative minimum tax amt credits corporate taxpayers elect accelerate taxable year lieu claiming bonus depreciation


Summary: Amends the Internal Revenue Code to: (1) extend for one year the 100% bonus depreciation allowance for business assets, and (2) increase the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation.

amends internal revenue code extend year bonus depreciation allowance business assets increase alternative minimum tax amt credits corporate taxpayers elect accelerate taxable year lieu claiming bonus depreciation


Summary: Death Tax Repeal Permanency Act of 2012 - Amends the Internal Revenue Code to: (1) repeal the estate and generation-skipping transfer taxes, and (2) make permanent the maximum 35% gift tax rate and a $5 million lifetime gift tax exemption.

amends internal revenue code repeal estate generation skipping transfer taxes permanent maximum gift tax rate million lifetime gift tax exemption


Summary: Communities Committed to College Tax Credit Act of 2012 - Amends the Internal Revenue Code to allow a tax credit for 50% of any contribution to a tax-exempt scholarship funding trust established to provide scholarships for individuals with demonstrated financial need to attend institutions of higher education.

amends internal revenue code allow tax credit contribution tax exempt scholarship funding trust established provide scholarships individuals demonstrated financial need attend institutions higher education


Summary: Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy or the Ex-PATRIOT Act - Amends the Internal Revenue Code to impose a 30% tax and withholding on capital gains income realized by a nonresident alien individual present in the United States for periods aggregating 183 days or more or an expatriate who has renounced his or her U.S. citizenship for tax avoidance purposes (specified expatriate). Amends the Immigration and Nationality Act to: (1) render a specified expatriate inadmissible to the United States, and (2) prohibit any waiver of such inadmissibility. Directs the Secretary of the Treasury, in consultation with the Secretaries of State and Homeland Security (DHS), to develop a policy for granting a waiver of inadmissibility to a specified expatriate who satisfies a tax liability related to such expatriate's renunciation of of U.S. citizenship.

expatriation prevention impose tax withholding capital gains income realized nonresident alien individual present united_states periods aggregating days renounced citizenship tax avoidance purposes specified amends immigration nationality act render specified inadmissible united_states prohibit waiver inadmissibility directs secretary treasury consultation homeland_security dhs develop policy granting waiver inadmissibility specified satisfies tax liability related citizenship


Summary: Amends the Internal Revenue Code to provide for a permanent reduction from 10 to 5 years in the recognition period for built-in gains of S corporations.

amends internal revenue code provide permanent reduction years recognition period built gains corporations


Summary: Americans Giving care to Elders (AGE) Act of 2012 - Amends the Internal Revenue Code to allow caregivers a tax credit for up to $6,000 of the eldercare expenses incurred for their parents (or ancestors of such parents). Amends the Older Americans Act of 1965 to: (1) increase and extend funding for the National Family Caregiver Support Program through FY2015, and (2) establish a National Resource Center on Family Caregiving to provide information on and support for family caregiver support programs.

americans giving care elders age act amends internal revenue code allow caregivers tax credit eldercare expenses incurred parents ancestors parents amends older americans act increase extend funding national_family_caregiver_support_program fy2015 establish national_resource_center_on_family_caregiving provide information support family caregiver support programs


Summary: American Opportunity Tax Credit Permanence and Consolidation Act of 2012 - Amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a new American Opportunity Tax Credit that: (1) allows an income tax credit of up to $3,000 of the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, (2) increases the income threshold for reductions in the credit amount based upon modified adjusted gross income, (3) allows a lifetime dollar limitation on such credit of $15,000 for all taxable years, and (4) makes 40% of the credit refundable. Allows an exclusion from gross income of any amount received as a Federal Pell Grant.

amends internal revenue code replace hope scholarship lifetime_learning tax credits new american_opportunity_tax_credit allows income tax credit qualified tuition related expenses student carrying half normal course load increases income threshold reductions credit based modified adjusted gross income allows lifetime dollar limitation credit taxable years makes credit refundable allows exclusion gross income received federal pell grant


Summary: Amends the Internal Revenue Code to: (1) qualify Indian tribes as eligible recipients of tax deductible contributions of "apparently wholesome food," as defined by the Bill Emerson Good Samaritan Food Donation Act; and (2) extend through 2013 the special rule allowing a tax deduction for contributions of apparently wholesome food by taxpayers other than C corporations.

amends internal revenue code qualify indian tribes eligible recipients tax deductible contributions apparently wholesome food defined bill emerson good samaritan food donation act extend special rule allowing tax deduction contributions apparently wholesome food taxpayers corporations


Summary: 21st Century Investment Act of 2012 - Amends the Internal Revenue Code to: (1) make permanent the tax credit for increasing research activities, (2) increase such credit for amounts paid or incurred for research substantially all of which occurs in the United States, (3) increase the rate of the simplified research tax credit, and (4) increase through December 31, 2020, the domestic production activities tax deduction for income attributable to the manufacture or production of property with respect to which substantially all of the research and development occurred in the United States.

21st century investment act amends internal revenue code permanent tax credit increasing research activities increase credit amounts paid incurred research substantially occurs united_states increase rate simplified research tax credit increase december domestic production activities tax deduction income attributable manufacture production property respect substantially research development occurred united_states


Summary: Expanding Industrial Energy and Water Efficiency Incentives Act of 2012 - Amends the Internal Revenue Code to: (1) increase megawatt and horsepower capacity limitations for the combined heat and power system property energy tax credit; (2) allow new tax credits to improve advanced motor system energy efficiency, to replace chlorofluorocarbon (CFC) refrigerant chillers, and for investment in any qualifying efficient industrial process water use project; and (3) allow an energy tax credit for investment in biomass heating property.

amends internal revenue code increase megawatt capacity limitations combined heat power system property energy tax credit allow new tax credits improve advanced motor system energy efficiency replace cfc investment qualifying efficient industrial process water use project allow energy tax credit investment biomass heating property


Summary: Taxpayer Bill of Rights Act of 2012 - Amends the Internal Revenue Code to require the Secretary of the Treasury, in consultation with the National Taxpayer Advocate, to publish a summary statement of taxpayer rights and obligations. Authorizes the Secretary to make grants to develop, expand, or continue volunteer income tax assistance programs to assist low-income taxpayers. Allows tax preparation program grant recipients to use grant funds to provide services related to financial literacy, asset development, and the establishment of savings accounts. Increases the grant funding for low-income taxpayer clinics. Requires the Secretary to: (1) prescribe regulations for the regulation of tax return preparers not otherwise regulated and to regulate the conduct of enrolled agents in their practice before the Internal Revenue Service (IRS); (2) require the annual registration of refund delivery product facilitators; and (3) furnish to the public the identity of any person who is an enrolled agent, attorney, or certified public accountant on file with the IRS, who is a tax return preparer, or who is registered as a refund delivery product facilitator. Applies the penalty for understatements of taxpayer liability by tax return preparers to tax submissions other than tax returns or claims for refunds. Prohibits the Secretary from filing a notice of lien with respect to any taxpayer unless: (1) the lien attaches to distrainable property, (2) the Secretary determines that the benefit to the government of filing outweighs the harm to the taxpayer and that the filing will not jeopardize the taxpayer's ability to comply with the internal revenue laws and to continue to secure funding to maintain business operations, (3) the Secretary notifies the taxpayer that the Secretary has determined to file such notice, and (4) the taxpayer is afforded an opportunity to appeal that determination. Requires the Secretary to consider specified factors in making such determination, including the amount due, the value of the taxpayer's equity in or rights to property, the taxpayer's compliance history, and the effect of the lien filing on the taxpayer's ability to obtain financing, generate future income, and pay current and future tax liabilities. Prohibits persons licensed to practice before the Department of the Treasury from directly or indirectly offering or providing audit insurance. Authorizes the National Taxpayer Advocate to issue Taxpayer Advocate directives for granting relief to taxpayers. Expresses the sense of Congress that the IRS should take specified steps within two years to improve service to taxpayers. Authorizes the Secretary to: (1) award demonstration project grants to provide accounts in federally insured depository institutions to taxpayers who do not currently have an account with a financial institution; (2) study the feasibility of, and establish a pilot program on, delivering tax refunds on debit cards or other electronic means for taxpayers who do not have access to financial accounts or institutions; (3) identify legislative and administrative changes that would enable the IRS to receive and process information reporting documents before it processes tax returns; and (4) assess the effectiveness of collection alternatives, especially offers in compromise, on long-term tax compliance. Requires de novo review in U.S. Tax Court of any determination by the IRS with respect to a claim for equitable innocent spouse relief.

taxpayer bill rights act amends internal revenue code require secretary treasury consultation national_taxpayer_advocate publish summary statement taxpayer rights obligations authorizes secretary grants develop expand continue volunteer income tax assistance programs assist low income taxpayers allows tax preparation program grant recipients use grant funds provide services related financial literacy asset development establishment savings accounts increases grant funding low income taxpayer clinics requires secretary prescribe regulations regulation tax return preparers regulated regulate conduct enrolled agents practice internal_revenue_service irs require annual registration refund delivery product facilitators furnish public identity person enrolled agent attorney certified public accountant file irs tax return preparer registered refund delivery product facilitator applies penalty understatements taxpayer liability tax return preparers tax submissions tax returns claims refunds prohibits secretary filing notice lien respect taxpayer lien property secretary determines benefit government filing outweighs harm taxpayer filing jeopardize taxpayer ability comply internal revenue laws continue secure funding maintain business operations secretary notifies taxpayer secretary determined file notice taxpayer afforded opportunity appeal determination requires secretary consider specified factors making determination including value taxpayer equity rights property taxpayer compliance history effect lien filing taxpayer ability obtain financing generate future income pay current future tax liabilities prohibits persons licensed practice department_of_the_treasury directly indirectly offering providing audit insurance authorizes national_taxpayer_advocate issue directives granting relief taxpayers expresses sense congress irs specified steps years improve service taxpayers authorizes secretary award demonstration project grants provide accounts federally insured depository institutions taxpayers currently account financial institution study feasibility establish pilot program delivering tax refunds debit cards electronic means taxpayers access financial accounts institutions identify legislative administrative changes enable irs receive process information reporting documents processes tax returns assess effectiveness collection alternatives especially offers compromise long term tax compliance novo review determination irs respect claim equitable innocent spouse relief