Jeff Bingaman: “on Monday, April 18, 2005, I introduced S. 832, the Taxpayer Protection and Assistance Act of 2005. I ask unanimous…”

“on Monday, April 18, 2005, I introduced S. 832, the Taxpayer Protection and Assistance Act of 2005. I ask unanimous consent to have printed in the Record explanatory language to accompany that legislation. There being no objection, the material was ordered to be printed in the Record, as follows: Analysis of Taxpayer Protection and Assistance Act (1) low-income taxpayer clinics Present Law. The Internal Revenue Code (the ``Code'') provides that the Secretary is authorized to provide up to $6 million per year in matching grants to certain low-income taxpayer clinics. Eligible clinics are those that charge no more than a nominal fee to either represent low-income taxpayers in controversies with the IRS or provide tax information to individuals for whom English is a second language (``controversy clinics''). No clinic can receive more than $100,000 per year. A ``clinic'' includes (1) a clinical program at an accredited law, business, or accounting school, in which students represent low-income taxpayers, or (2) an organization exempt from tax under Code section 501(c) which either represents low-income taxpayers or provides referral to qualified representatives. Explanation of Provision. The provision authorizes $10 million in matching grants for low-income taxpayer return preparation clinics (``preparation clinics'').…”