Amends the Internal Revenue Code of 1986 to increase penalties for unauthorized disclosure of taxpayer information.
Raises the penalty for unauthorized disclosures from $5,000 and/or up to 5 years of imprisonment to $250,000 and/or up to 10 years of imprisonment.
Introduces a provision that treats disclosures of return information of multiple taxpayers as multiple violations, meaning each taxpayer’s information disclosed counts as a separate violation.
The new penalties and provisions apply to disclosures made after the enactment of the legislation.
