PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Ways and Means.
Congressional Research Service
No official summary is available in the imported record yet.
People & committees
Rep. Neal, Richard E. [D-MA-1] · D–MA
Legislative record
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Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We also preserved the text version used in the PlainBill explanation below.
Source last updated: Aug 24, 2026. Consult Congress.gov for the current record.
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PlainBill explanation
Based on the full Introduced in House · 2026-08-06 text. This explanation has not received human editorial review. This overview describes the proposal’s major provisions; it does not establish what its real-world effects would be.
The proposed Presidential Tax Accountability and Audit Integrity Act would restrict terms in agreements, orders, waivers, releases, addenda, instructions, or similar documents that purport to affect federal tax matters involving the President, specified relatives, or related persons and are made during that presidency. The bill calls these terms “covered instruments.” It would prohibit the Secretary from entering into, granting, or making them after enactment and require the Secretary to disregard them—including existing ones—when administering or enforcing federal tax laws. The bill would also require public reporting and extend certain tax enforcement deadlines for qualifying instruments made before enactment.
This Act may be cited as the Presidential Tax Accountability and Audit Integrity Act.
The Secretary— (1) is not authorized to enter into, grant, or make any covered instrument after the date of the enactment of this section, and (2) shall give no effect to any covered instrument in administering and enforcing the internal revenue laws.
the term covered instrument means any term of any agreement, order, waiver, release, addendum, instruction, or similar instrument which— (1) purports to affect any Federal tax matter involving— (A) the President, (B) any individual who bears a relationship described in section 152(d)(2) to the individual described in subparagraph (A), or (C) any person related to any person described in subparagraph (A) or (B), and (2) is entered into, granted, or made during the period the individual described in paragraph (1)(A) is serving as President.
The Secretary shall submit to Congress and make publicly available reports disclosing the identity of the taxpayers to whom a covered instrument applies and any actions taken to comply with the requirements of this section (including any action taken to administer or enforce any tax to which the covered instrument applies with respect to such taxpayers).
In the case of any applicable person, the period for assessment for any applicable tax, or for bringing a proceeding in court for collection without assessment of such tax, shall not expire at any time before the later of— (A) the date that is 3 years after the conclusion of the term in office as President of the individual described in section 7124(b)(1)(A) of the Internal Revenue Code (as added by this section) with respect to a covered instrument described in paragraph (2), or (B) the date otherwise provided under section 6501 of such Code.
the term applicable person means any person described in section 7124(b)(1) of the Internal Revenue Code of 1986 (as added by this section) whose Federal taxes are affected by a covered instrument entered into, granted, or made after January 20, 2025, and before the date of the enactment of this Act.
Except as provided in paragraph (2), the amendments made by this section shall apply to covered instruments (as defined in section 7124 of the Internal Revenue Code of 1986, as added by subsection (a)) entered into, granted, or made before, on, or after January 20, 2025.
The bill would renumber existing tax-code section 7124 as section 7125 and insert a new section 7124 denying the Secretary authority to make covered instruments after enactment. It would also require the Secretary to give covered instruments no effect when administering or enforcing federal tax laws.
Chapter 74 of the Internal Revenue Code of 1986 is amended by redesignating section 7124 as section 7125 and by inserting after section 7123 the following new section: 7124. Prohibited orders and agreements (a) General rule The Secretary— (1) is not authorized to enter into, grant, or make any covered instrument after the date of the enactment of this section, and (2) shall give no effect to any covered instrument in administering and enforcing the internal revenue laws.
Coverage would extend to terms in agreements, orders, waivers, releases, addenda, instructions, or similar instruments that purport to affect any federal tax matter involving the President, relatives identified through a statutory cross-reference, or related persons. The covered term must have been entered into, granted, or made while that President was serving in office.
the term covered instrument means any term of any agreement, order, waiver, release, addendum, instruction, or similar instrument which— (1) purports to affect any Federal tax matter involving— (A) the President, (B) any individual who bears a relationship described in section 152(d)(2) to the individual described in subparagraph (A), or (C) any person related to any person described in subparagraph (A) or (B), and (2) is entered into, granted, or made during the period the individual described in paragraph (1)(A) is serving as President.
Related persons would include those whose relationship would result in disallowance of losses under specified tax-code provisions, with a modified family definition, and those engaged in trades or businesses under common control. The referenced provisions are not reproduced in the supplied source, so the full scope of these relationships cannot be determined here.
a person shall be treated as related to another person if— (1) the relationship between such persons would result in the disallowance of losses under section 267 or 707(b) (but, in applying subsections (b) and (c) of section 267 for purposes of this section, paragraph (4) of section 267(c) shall be treated as providing that the family of an individual shall include all individuals described in subsection (b)(1)(B)), or (2) such other person and such person are engaged in trades or businesses under common control (within the meaning of subsections (a) and (b) of section 52).
The Secretary would have to report to Congress and the public, identifying affected taxpayers and describing compliance actions, including actions to administer or enforce the affected taxes.
The Secretary shall submit to Congress and make publicly available reports disclosing the identity of the taxpayers to whom a covered instrument applies and any actions taken to comply with the requirements of this section (including any action taken to administer or enforce any tax to which the covered instrument applies with respect to such taxpayers).
The first report would be due within seven days after a covered instrument is entered into, granted, or made. For instruments made before enactment, it would be due within seven days after enactment. Reports would then be required every 30 days.
Reports required under paragraph (1) shall be made— (A) not later than 7 days after the date the covered instrument is entered into, granted, or made (or, in the case of any covered instrument entered into, granted, or made before the date of the enactment of this section, not later than 7 days after such date of enactment), and (B) every 30 days thereafter
Recurring reports would end at the earlier of two points: the close of the first 30-day reporting period ending after three years have passed since the President’s term concluded, or the close of the first such period ending after the instrument is rescinded.
ending with the earlier of— (i) the close of the first 30-day period ending after the date that is 3 years after the conclusion of the term in office as President of the individual described in subsection (b)(1)(A), or (ii) the close of the first 30-day period ending after the date the covered instrument is rescinded.
The bill would authorize public disclosure of return information to the extent necessary to carry out these reporting requirements. The disclosure amendments would apply to disclosures made after enactment. A conforming amendment would add a reference to the new paragraph (16) in section 6103(p)(3)(A); the supplied text does not reproduce that existing provision, so its broader operation cannot be determined here.
Section 6103(k) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (16) Disclosures related to covered instruments Return information may be disclosed to members of the general public to the extent necessary to carry out the requirements of section 7124(d).
Section 6103(p)(3)(A) of such Code is amended by striking or (9) and inserting (9), or (16).
The amendments made by subsection (a)(2) shall apply to disclosures made after the date of the enactment of this Act.
For covered taxpayers whose federal taxes are affected by instruments made after January 20, 2025, and before enactment, certain tax enforcement deadlines would remain open until at least three years after the President’s term ends, or the date otherwise provided under tax-code section 6501, whichever is later. This rule covers assessment and court collection proceedings brought without assessment. Section 6501 is not reproduced in the supplied source, so its otherwise applicable deadlines cannot be specified here.
the period for assessment for any applicable tax, or for bringing a proceeding in court for collection without assessment of such tax, shall not expire at any time before the later of— (A) the date that is 3 years after the conclusion of the term in office as President of the individual described in section 7124(b)(1)(A) of the Internal Revenue Code (as added by this section) with respect to a covered instrument described in paragraph (2), or (B) the date otherwise provided under section 6501 of such Code.
the term applicable person means any person described in section 7124(b)(1) of the Internal Revenue Code of 1986 (as added by this section) whose Federal taxes are affected by a covered instrument entered into, granted, or made after January 20, 2025, and before the date of the enactment of this Act.
The deadline rule would cover taxes imposed under the federal tax code only where the relevant assessment or court-collection period had not expired before the covered instrument was made, calculated without this proposed extension.
the term applicable tax means any tax imposed under the Internal Revenue Code of 1986 and for which the period for assessment or for bringing a proceeding in court for collection of such tax (determined without regard to this subsection) has not expired before the date on which the covered instrument described in paragraph (2) was entered into, granted, or made.
Except for the separate disclosure effective date, the section’s amendments would apply to covered instruments made before, on, or after January 20, 2025. The text therefore does not limit the general no-effect rule to instruments made after that date.
Except as provided in paragraph (2), the amendments made by this section shall apply to covered instruments (as defined in section 7124 of the Internal Revenue Code of 1986, as added by subsection (a)) entered into, granted, or made before, on, or after January 20, 2025.
The bill would prohibit construing this section or its amendments to imply that a covered instrument would otherwise be valid or enforceable.
Nothing in this section or the amendments made by this section shall be construed to create any inference that a covered instrument (as defined in section 7124(b) of the Internal Revenue Code of 1986 (as added by this section)) is otherwise valid or enforceable notwithstanding the amendments made by this section.
The supplied official-actions snapshot, updated August 24, 2026, records introduction in the House and referral to the House Committee on Ways and Means on August 6, 2026.
Source snapshot updated 2026-08-24T17:20:05Z. 2026-08-06: Referred to the House Committee on Ways and Means. 2026-08-06: Introduced in House
A closer look
Reviewed version: Introduced in House · 2026-08-06. These findings describe provisions and who may benefit; they are not judgments of waste, corruption, or motive.
This review covers the supplied bill text. “None identified” does not rule out provisions in later versions or accompanying reports and disclosures.
Provisions outside the bill’s main subject, or policy changes attached to appropriations.
None identified in the reviewed text
No unrelated provision or policy change attached to appropriations was identified in the complete supplied introduced text. This conclusion is limited to that version and does not establish attachment history or absence in other versions or accompanying materials.
Spending directed to particular recipients or places outside ordinary competitive or formula-based allocation.
None identified in the reviewed text
No congressionally directed spending for particular recipients or places was identified in the complete supplied introduced text. This conclusion is limited to that version; the source set cannot establish formal earmark status or absence in other versions or accompanying materials.
Narrow exceptions, exemptions, or preferential treatment that warrant a closer look.
None identified in the reviewed text
No materially narrow preferential benefit, special exemption, or carve-out was identified in the complete supplied introduced text. Narrowly focused restrictions and reporting duties do not themselves constitute benefits. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials.
Full text preserved for this analysis. Legislative record snapshot: Aug 24, 2026. How PlainBill uses AI