Protecting Innocent Taxpayers from Endless Assessments Act
Sponsor
- Conservative Groups$1,092k
Full profile: /officials/M001198
Source: Congress.gov · FEC
Cosponsors (1)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Committee Activity
Currently in
- Senate Committee on FinanceReferred To · 2026-07-14
Plain-English Summary
The bill would change tax law to limit when the IRS can go back and audit someone for fraud, making it so the IRS can only use the extended fraud exception when a taxpayer deliberately tried to avoid paying taxes they owed rather than simply filing an incorrect return. This would protect taxpayers from extended audits in cases where mistakes were made without intent to cheat, while still allowing the IRS to pursue cases of intentional tax evasion. The change affects both individual taxpayers and businesses that file tax returns.
AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.
Full Bill Text
Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.
119 S4964 IS: Protecting Innocent Taxpayers from Endless Assessments Act U.S. Senate 2026-07-14 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. II119th CONGRESS2d SessionS. 4964IN THE SENATE OF THE UNITED STATESJuly 14, 2026Mr. Marshall (for himself and Mr. Welch) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo amend the Internal Revenue Code of 1986 to clarify that the exception to the general statute of limitations for fraudulent returns applies only when a taxpayer seeks to evade their tax obligations.1.Short titleThis Act may be cited as the Protecting Innocent Taxpayers from Endless Assessments Act.2.Limitation period not extended for victims of preparer fraud(a)In generalSection 6501(c)(1) of the Internal Revenue Code of 1986 is amended by inserting by the taxpayer after intent.(b)Effective dateThe amendment made by this section shall apply to assessments made or proceedings begun after the date of enactment of this Act.
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