Tax Court Parity Act

Summary

The Tax Court Parity Act amends the Internal Revenue Code to give the Tax Court clear authority to fix clerical mistakes and to set aside final judgments when a party shows mistake, new evidence, fraud, or other justice‑required reasons. It applies to taxpayers and their representatives who are involved in Tax Court cases. The change matters because it aligns the Tax Court’s powers with those of other federal courts, improving fairness and consistency.

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