Stealth Tax Act Seeks to Curb IRS

Posted by accountingweb on Feb 9 2001 65 printer friendly

Senate bill 286, "Stealth Tax Prevention Act," has been introduced by Senator Richard Shelby (R-AL) with the intent of keeping tabs on any attempts of the IRS to increase federal revenues with tax increases.

Under the provisions of the act, any IRS regulation that seeks to increase federal revenues over current prices or revenues would be subject to congressional review and disapproval within 60 days after the regulation is issued.

Sen. Conrad Burns (R-Mont.) said the bill "would ensure that the IRS neither usurps the proper role of Congress nor skirts its obligation to identify the impact of its proposed and final rules."

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