TBOR2

(redirected from Taxpayer Bill of Rights 2)
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AcronymDefinition
TBOR2Taxpayer Bill of Rights 2
References in periodicals archive ?
Taxpayer Bill of Rights 2 provides a welcome alternative to this drastic penalty by providing for a new IRC section 4958.
Prior to the enactment of the Taxpayer Bill of Rights 2, the only available enforcement sanction to insure that the tax-exempt status of entities such as health-care facilities benefitted the community and not private individuals was the harsh penalty of revocation of the tax-exempt status of the entity.
With the enactment of the Taxpayer Bill of Rights 2, tax-exempt organizations face significant new reporting requirements and penalty taxes.
REFLECTIONS: In 1996, Congress passed the Taxpayer Bill of Rights 2, which amended Sec.
As part of the Taxpayer Bill of Rights 2, Congress mandated that the Department of the Treasury and the Internal Revenue Service prepare and submit a report on the so-called interest netting problem, pursuant to which taxpayers who simultaneously owe and are owed money by the federal government are financially penalized.
The Taxpayer Bill of Rights 2 (HR 2337), heralded as a victory for taxpayers, was widely supported by both Democrats and Republicans in Congress.
Under the Taxpayer Bill of Rights 2, interest on tax deficiencies or late payments can be abated due to unreasonable IRS errors or delays attributable to managerial or ministerial acts.
Monks reviewed the changes effected by the Taxpayer Bill of Rights 2 (T2), including changes in the rules relating to Taxpayer Assistance Orders (TAOs) and the enhanced linkage between the Taxpayer Advocate and the Problem Resolution Officers (PROs) in the field.
The provisions of the new House bill, Taxpayer Bill of Rights 2, were included in substantially the same form in the balanced budget bill passed by the House last year, and are supported by the administration.
Prior to the IRSRRA, one of the most publicized provisions relating to taxpayer rights was that of the Taxpayer Advocate (Advocate), created in 1996 by the Taxpayer Bill of Rights 2.
Such heavy-handed actions even if defensible under a literal reading of the Code, prompted Congress in the recently enacted Taxpayer Bill of Rights 2 (T2) legislation to mandate a joint IRS-Treasury Department study on interest netting.
Nonetheless, congressional impatience with IRS delays was signaled during the hearings in 1995 relating to the Taxpayer Bill of Rights 2 legislation.
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