Bill · S. 5275· Senate(119-S-5275)
Presidential Tax Accountability and Audit Integrity Act
- Introduced
- 8/6/2026
- Last activity
- 8/6/2026 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Ron Wyden
- Cosponsors
- - 4 - 0
- Introduced
- In Committee
What this bill would do
This bill, known as the "Presidential Tax Accountability and Audit Integrity Act," seeks to amend the Internal Revenue Code of 1986. It aims to prohibit the Secretary from entering into or giving effect to "covered instruments" related to Federal tax matters involving the President. These prohibited instruments include agreements, orders, or waivers involving the President, their family members, or related business entities. The Act also requires the Secretary to submit and publicly disclose reports regarding these taxpayers. Furthermore, it extends the period for tax assessment and collection for certain individuals to ensure accountability.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Transparency: The Secretary is required to submit reports to Congress and make them available to the public, disclosing the identity of taxpayers to whom a covered instrument applies (Section 7124(d)(1)).
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Public Disclosure of Information: The bill amends the Internal Revenue Code to allow return information to be disclosed to the general public as necessary to carry out the reporting requirements (Section 7124(d)(2)(A)).
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Ensuring Tax Collection: The Act extends the period for assessment and court proceedings for collection for certain individuals, ensuring that the time to collect taxes does not expire too early (Section 7124(b)(1)).
Potential Negative Impacts for People
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Disclosure of Taxpayer Identity: The bill mandates that the Secretary disclose the identity of certain taxpayers to the public through reports (Section 7124(d)(1)).
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Extended Tax Assessment Periods: For certain individuals, the period for assessment or bringing court proceedings for collection is extended to a date that is at least 3 years after the conclusion of the individual's term as President (Section 7124(b)(1)(A)).
- 8/6/2026
- Read twice and referred to the Committee on Finance.
- 4 Cosponsors added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Maria CantwellDemocrat · Washington
Ben LujánDemocrat · New Mexico
Peter WelchDemocrat · Vermont
Sheldon WhitehouseDemocrat · Rhode Island