S5143Referred to Committee

A bill to amend the Internal Revenue Code of 1986 to modify procedural requirements for penalties and disallowance periods.

Share:
Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-07-28
Introduced
0
Cosponsors
S
ⓘ
Type

Sponsor

Michael F. Bennet
Michael F. Bennet
Democrat · CO · Senator
Votes with party: 82.4% (791 recorded votes)

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 →

Read twice and referred to the Committee on Finance.

2026-07-28

Source: Congress.gov

Committee Activity

Currently in

Plain-English Summary

The proposal would change how the IRS handles tax penalties and the time limits for challenging denied tax deductions or credits, making the process more flexible for taxpayers who disagree with the agency's decisions. These changes would affect individuals and businesses that face penalties or have their tax claims rejected by the IRS, potentially giving them more opportunities to dispute these determinations.

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 is not yet cached locally.
Open text viewRead on Congress.gov

Related legislation

Bills by the same sponsor or covering overlapping subjects.