Low-Income Taxpayer Protection Act of 2005

The Low-Income Taxpayer Protection Act of 2005 (H.R. 894) aims to regulate the tax preparation industry and expand free or low-cost filing services for low-income individuals. The bill would require all tax preparers and refund loan providers to register with the government, while also providing grants to community organizations and clinics that offer free tax assistance. For citizens, this legislation is designed to increase protections against predatory lending practices, improve access to electronic filing, and help unbanked individuals set up accounts to receive their tax refunds via direct deposit.