Taxpayer Protection Act of 2007

Floor Speech

TAXPAYER PROTECTION ACT

Mr. WALZ of Minnesota. Madam Speaker, I rise today in support of H.R. 1677, the Taxpayer Protection Act of 2007.

Every year thousands of taxpayers receive smaller refunds than they are entitled to. Our Tax Code is so inaccessible and complicated that many families do not claim all of the credits they so sorely need. The Taxpayer Protection Act of 2007 will improve communication between taxpayers and the IRS. By encouraging the Internal Revenue Service to reach out to those that may qualify for the earned income tax credit, we will save struggling families many thousands of dollars

Tax preparation is a multibillion-dollar business in America. It is useful to those who can afford it, but no one should be forced to hire an accountant or a preparer just to ensure that they can enjoy the benefits that many of us take for granted. Nor should the industry be able to prey on taxpayers with unfair refund anticipation loans.

This piece of legislation will improve the safeguards against fraud. By increasing reporting requirements on the IRS, the agency will become a vital component in the important fight against identity theft.

As many Americans rush to file their taxes on time this week, we all want to feel secure that the refund we receive is no more or less than we deserve.

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