A bill to amend the Internal Revenue Code of 1986 to improve the notice and review procedure with respect to multi-year bans on claiming credits.
Sponsor
Full profile: /officials/B001267
Source: Congress.gov · FEC
Cosponsors (0)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.
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 · 2026-07-28
Plain-English Summary
The bill would change how the IRS handles penalties when businesses or individuals are banned from claiming certain tax credits for multiple years, by improving the notice they receive and giving them a better chance to challenge the decision. Currently, taxpayers may not get clear information about why they're being penalized or have adequate opportunity to dispute it, so this legislation aims to make the process more transparent and fair. The changes would primarily affect businesses and individuals who claim tax credits on their 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.
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