House Bill 1200
117th Congress(2021-2022)
Stop CHEATERS Act
Introduced
Introduced in House on Feb 22, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1200
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
Stop Corporations and High Earners from Avoiding Taxes and Enforce the Rules Strictly Act or the Stop CHEATERS Act
This bill provides additional appropriations through FY2031 for the enforcement activities of the Internal Revenue Service and to increase audits yearly until 2025 to reach specified targets. It also provides additional appropriations for taxpayer services and operations support.
The bill establishes new reporting requirements for certain banks or other financial institutions and increases enforcement penalties for accuracy-related underpayments of tax up to a maximum of 40% of the underpayment for taxpayers with a taxable income greater than $5 million.
February 22, 2021
02/22/2021
Referred to the House Committee on Ways and Means.
02/22/2021
Introduced in House
Public Record
Record Updated
Mar 8, 2023 8:12:10 PM