Walz to Vote in Favor of Taxpayer Protection Act of 2007

Press Release

WALZ TO VOTE IN FAVOR OF TAXPAYER PROTECTION ACT OF 2007

Today, as many Americans file their tax returns, Rep. Tim Walz will vote in favor of H.R. 1677, The Taxpayer Protection Act of 2007. The legislation requires the Internal Revenue Service to conduct additional outreach to low-income workers who qualify for the Earned Income Tax Credit, to take further measures to reduce identity theft, and to do more to notify taxpayers of unclaimed refunds.

"Thousands of working poor people in southern Minnesota and across the country don't realize that they are eligible to take the Earned Income Tax Credit, and they overpay their taxes by as much as several thousand dollars," Walz said. "This bill requires the IRS to notify certain taxpayers that they qualify for this credit, which I hope will help many struggling families in our district hold on to more of their earnings."

The legislation would also fight fraud and predatory lending. It requires the IRS to notify individuals of unauthorized use of their identity, and it bans the IRS from paying refunds to any business whose practices are deemed predatory.

"Our country's tax code is a complicated mess, and the Taxpayer Protection Act is a good first step towards addressing some pressing problems. I am eager to support additional measures to make our tax system simpler and fairer."

In its first 100 days, the new Democratic House passed $1.3 billion in tax cuts to help small businesses grow and hire new workers. In addition to these tax cuts, which comply with PAYGO rules, H.R. 1677 includes provisions that simplify tax reporting for small, family-owned businesses.

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