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.

HR 10546 aims to amend the Internal Revenue Code of 1986 to authorize the disclosure of specific business tax return information to two federal statistical agencies: the Bureau of Economic Analysis (BEA) and the Bureau of Labor Statistics (BLS). The bill's purpose is to enhance these agencies' ability to produce accurate economic statistics by providing them access to otherwise confidential business tax data. Currently, strict taxpayer privacy protections in Section 6103 of the Internal Revenue Code generally prohibit the disclosure of tax return information, with limited exceptions. This legislation would create a new exception specifically for statistical purposes, potentially improving the quality and comprehensiveness of federal economic data collection and analysis.

Detailed Analysis

The bill addresses a longstanding challenge in federal economic data collection: the tension between taxpayer privacy and the need for comprehensive economic statistics. The Bureau of Economic Analysis, housed within the Department of Commerce, produces critical economic indicators including GDP calculations, while the Bureau of Labor Statistics, part of the Department of Labor, generates employment statistics, productivity measures, and inflation data. Both agencies currently rely on surveys, voluntary reporting, and publicly available information, which can create data gaps or delays. However, the full text of HR 10546 as provided contains only the title statement and lacks the specific amendments to the Internal Revenue Code that would implement these changes. Without the detailed provisions, it's impossible to analyze the specific mechanisms for disclosure, what types of business tax information would be shared, what safeguards would protect taxpayer privacy, or how the agencies would be authorized to use this information. The absence of substantive legislative text makes it unclear whether this represents a complete bill or merely a title/summary placeholder. Typically, such legislation would include specific amendments to Section 6103 of the Internal Revenue Code, detailed privacy protections, limitations on data use, and procedures for inter-agency information sharing. The bill would also normally specify which business returns (corporate, partnership, sole proprietorship) would be subject to disclosure and what statistical purposes would qualify for access.