S.20 - Presidential Tax Transparency Act116th Congress (2019-2020) |
|Sponsor:||Sen. Wyden, Ron [D-OR] (Introduced 01/03/2019)|
|Committees:||Senate - Rules and Administration|
|Latest Action:||Senate - 01/03/2019 Read twice and referred to the Committee on Rules and Administration. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.20 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (01/03/2019)
Presidential Tax Transparency Act
This bill requires the President and certain candidates for President to disclose federal income tax returns for the three most recent taxable years in reports filed with either the Office of Government Ethics (OGE) or the Federal Election Commission (FEC), in the case of a candidate.
The OGE or the FEC must make the disclosed tax returns publicly available after making appropriate redactions. If the income tax returns are not disclosed as required by this bill, the OGE or the FEC must request the returns from the Internal Revenue Service (IRS).
The bill requires the IRS, upon receiving a written request from the FEC or the OGE, to provide any income tax return that is required to be disclosed under this bill.
The bill also establishes civil and criminal penalties for failing to file or falsifying income tax returns that are required to be disclosed pursuant to this bill.