Today the Joint Committee on Taxation (JCT) released two reports (JCX-27-16 and JCX-28-16) summarizing modifications to the Senate Finance Committee Chairman’s mark of a bill to prevent identity theft and tax refund fraud. Among other items, the modifications remove the proposal to provide the Justice Department and the IRS with the authority to regulate all paid tax return preparers. According to JCT estimates, the legislation will have little to no revenue effect.