WASHINGTON, July 28 -- Sen. Michael Bennet issued the following press release:
Colorado U.S. Senator Michael Bennet, a senior member of the Senate Finance Committee, introduced three pieces of legislation to provide taxpayers with greater certainty and flexibility when dealing with the IRS and the tax filing process. The legislation would eliminate installment fees for low-income taxpayers; require the Internal Revenue Service (IRS) to explain multi-year bans for the Earned Income Tax Credit (EITC), the Child Tax Credit (CTC), or the American Opportunity Tax Credit (AOTC) in a notice of deficiency; and ensure that IRS penalties are sent only after written approval has been received from a supervisor.
"Too many taxpayers struggle to unders...