This bill amends the Internal Revenue Code to make several changes to Internal Revenue Service (IRS) administrative policies and various tax deductions, tax credits, and requirements for tax-favored savings accounts.
The bill includes provisions that:
allow various tax credits, deductions, and modifications to existing rules for individuals and businesses affected by recent natural disasters; modify the requirements for employer-provided retirement plans and Individual Retirement Accounts; expand the purposes for which qualified tuition programs (known as 529 plans) may be used; repeal or delay several health-related taxes; make several technical and other modifications to P.L. 115-97 (commonly known as the Tax Cuts and Jobs Act); modify requirements for the IRS regarding its organizational structure, customer service, whistle-blowers, tax enforcement procedures, management of information technology, and use of electronic systems; prohibit the rehiring of certain IRS employees who were removed for misconduct; establish requirements for cybersecurity and identify protection; and make Tax Court judges subject to the same grounds for disqualification as other federal judges.