To amend the Internal Revenue Code of 1986 to allow the disclosure of certain business tax return information to the Bureau of Economic Analysis and the Bureau of Labor Statistics for certain statistical purposes.
This bill allows the Internal Revenue Service to share certain business tax information with two federal statistical agencies: the Bureau of Economic Analysis and the Bureau of Labor Statistics. The agencies would receive data needed to improve their economic statistics and census work, including employer identification numbers, business names and addresses, gross receipts, number of employees, and wage information from various tax forms. The disclosure would be limited to sole proprietorships with over $250,000 in gross receipts, as well as corporations and partnerships, and the shared information would be stripped of identifying details before being used for broader statistical purposes. The bill also allows these two agencies to share information with each other when necessary for authorized statistical activities. The changes would take effect immediately upon enactment, with no specific funding or timeline requirements specified.
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