Identity Theft and Tax Fraud Prevention Act

[AI summary unavailable — showing source text] Identity Theft and Tax Fraud Prevention Act - Amends the Internal Revenue Code to: (1) impose a criminal penalty on any person who willfully misappropriates another person's taxpayer identity, (2) increase the penalty for unauthorized disclosure of taxpayer information by paid tax preparers, (3) require the Commissioner of Internal Revenue to submit to the House Committee on Ways and Means and the Senate Committee on Finance an annual report detailing the number of reports of tax fraud and suspected tax fraud received from state and local law enforcement agencies and actions taken in response to such reports, and (4) make permanent the authority of the Secretary of the Treasury to disclose information about federal or state prison inmates who may have filed or facilitated the filing of false or fraudulent tax returns and to allow disclosures of such information to contractors responsible for the operation of a federal or state prison. Directs the Secretary to implement an identity theft tax fraud prevention program that provides for a unique personal identification number (PIN) on tax returns. Authorizes the Commissioner to transfer appropriated funds to be used…