118th Congress Taxation
S. 1272: Presidential Audit and Tax Transparency Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill requires the Internal Revenue Service (IRS) to conduct an examination to determine the correctness of a Presidential income tax return as rapidly as practicable after it is filed.
The IRS must disclose and make publicly available (on the internet) an initial report, periodic reports, and a final report on the examination of such tax returns. The final report must include the date on which the IRS examination of the return was completed, a list of audit materials, and a description of each proposed adjustment to a return and any controversy relating to its examination. This disclosure of tax return information is an exception to the general rule of confidentiality of taxpayer returns.
The bill defines Presidential income tax return as any relevant income tax return of (1) a president while the president is in office, (2) the spouse of a president, (3) a corporation or partnership controlled by a president or a president's spouse, and (4) the estate of a president or a president's spouse.
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The bill imposes additional disclosure requirements by presidents and presidential candidates under the Ethics in Government Act of 1978.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Maria Cantwell D-WAOriginal
- Benjamin Cardin D-MDOriginal
- Amy Klobuchar D-MNOriginal
- Timothy Kaine D-VAOriginal
- Edward Markey D-MAOriginal
- Bernard Sanders I-VTOriginal
- Chris Van Hollen D-MDOriginal
- Peter Welch D-VTOriginal
- Sheldon Whitehouse D-RIOriginal
- Elizabeth Warren D-MAOriginal
- Debbie Stabenow D-MI
Who scored on this bill
- 1Ron Wyden SponsorDrew cross-party cosponsors, introduced2 events+6
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Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Ron Wyden
- S. 2015: National Prescribed Fire Act of 2025
- S.J.Res. 198: Disapproval of Centers for Medicare & Medicaid Services of the Department of Health and Human Services rule: Medicare Program; Implementation of Prior Authorization for Select Services for the Wasteful and Inappropriate Services Reduction (WISeR) Model
- S.J.Res. 192: Disapproval of Centers for Medicare & Medicaid Services of the Department of Health and Human Services rule: Medicare Program; Implementation of Prior Authorization for Select Services for the Wasteful and Inappropriate Services Reduction (WISeR) Model
- S.J.Res. 145: Disapproval of Bureau of Consumer Financial Protection relating to the withdrawal of the rule rule: Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports
- S.J.Res. 95: Disapproval of Internal Revenue Service rule: Interim Guidance Simplifying Application of the Corporate Alternative Minimum Tax to Partnerships
- S.J.Res. 88: Terminating the national emergency declared to impose global tariffs
History
- Introduced in the Senate by Ron Wyden.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.