S. 5135, introduced on September 23, 2024, is a bill aimed at amending the Internal Revenue Code of 1986 to increase the penalties for unauthorized disclosure of taxpayer information. The proposed changes significantly raise the fines from $5,000 to $250,000 and extend the...
Simple Explanation
The bill is like a big rule saying people need to be extra careful with others' tax secrets. If someone shares these secrets without permission, they could be fined a huge amount of money, and if they share secrets about lots of people, they'll be in even bigger trouble.