Search Results: keywords:"audit requirements"

  • H. R. 6751 — To require the Secretary of the Treasury to mint commemorative coins in recognition of the life and legacy of Roberto Clemente.
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    Status:Introduced in House
    Words:2,179

    H.R. 6751 proposes that the Secretary of the Treasury create special commemorative coins honoring Roberto Clemente, a celebrated baseball player and humanitarian. The bill specifies producing gold, silver, and clad coins, each with distinct physical characteristics and...

    Simple Explanation

    H.R. 6751 is about making special coins to honor a famous baseball player named Roberto Clemente, with some of the money from selling these coins going to help a group that does good things like helping kids play sports and giving aid during disasters. The plan is to make sure these coins are made without costing the government any extra money.

  • H. R. 7749 — To amend the Internal Revenue Code of 1986 to impose a tax on the net value of assets of a taxpayer, and for other purposes.
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    Status:Introduced in House
    Words:4,622

    H.R. 7749, titled the "Ultra-Millionaire Tax Act of 2024," aims to amend the Internal Revenue Code of 1986 by introducing a tax on the net value of a taxpayer's assets. The bill sets tax rates ranging from 2% to 6%, depending on the asset value, with special considerations...

    Simple Explanation

    H.R. 7749, known as the "Ultra-Millionaire Tax Act of 2024," is a plan to make very rich people pay extra taxes on their treasures, helping improve the IRS's ability to collect and manage these taxes by giving them more money to do their job better.

  • S. 4716 — To amend section 7504 of title 31, United States Code, to improve the single audit requirements.
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    Status:Introduced in Senate
    Words:917

    S. 4716, titled the “Financial Management Risk Reduction Act," aims to enhance single audit requirements by amending section 7504 of title 31, United States Code. The bill requires the identification of entities that receive significant federal funding but have not undergone audits. It...

    Simple Explanation

    The Financial Management Risk Reduction Act is a new rule that wants to make sure that people or groups getting lots of money from the government are checked on to ensure they're using it correctly. The rule also wants to find new ways to check that everything is okay and see if these new ways actually help after a few years.

  • S. 4371 — To amend the Investor Protection and Securities Reform Act of 2010 to provide grants to States for enhanced protection of senior investors and senior policyholders, and for other purposes.
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    Status:Introduced in Senate
    Words:1,754

    S. 4371, titled the “Empowering States to Protect Seniors from Bad Actors Act,” aims to modify the Investor Protection and Securities Reform Act of 2010. The bill proposes providing grants to state securities commissions and insurance departments to enhance the protection of...

    Simple Explanation

    The bill is like a safety net for grandmas and grandpas to protect them from money tricksters by giving extra money to states so they can hire people and use technology to stop these sneaky people. It's like giving states superhero money to keep seniors' money safe, but they need to make sure it's spent the right way.

  • S. 4017 — To amend the Internal Revenue Code of 1986 to impose a tax on the net value of assets of a taxpayer, and for other purposes.
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    Status:Introduced in Senate
    Words:4,495

    The bill, titled the "Ultra-Millionaire Tax Act of 2024," aims to amend the Internal Revenue Code to impose a wealth tax on individuals with net assets exceeding $50 million. The tax rate starts at 2% for assets over this threshold and increases to 3% or 6% if certain health legislation...

    Simple Explanation

    The bill wants to make super-rich people, who have more than $50 million, pay extra money to the government to help share the wealth more evenly, and it plans to give lots of money to the tax office to make sure they check if everyone is paying correctly. This is like asking those with lots of toys to share a bit more and giving helpers extra tools to count all the toys.