Enrolled Bill Summary

Senate Bill 1037 amends the Tax Code to authorize the comptroller to establish a program in which a taxpayer may hire a certified public accountant not employed by the comptroller to conduct an audit to determine the taxpayer's liability for sales and use taxes. The rules of the audit program must include eligibility requirements for taxpayer participation, training requirements and qualifications for the accountant, and safeguards to protect the confidentiality of information used in the audit. Unless the audit or other information available to the comptroller discloses fraud or wilful evasion of the tax, the comptroller may not assess a penalty and may waive all or part of the accrued interest on the amount of taxes shown by the audit to be due.