S 5143·Federal·senate
A bill to amend the Internal Revenue Code of 1986 to modify procedural requirements for penalties and disallowance periods.
In CommitteeFiled Jul 28, 2026
Sponsor: Sen. Bennet, Michael F. [D-CO] (D)
Latest Action
Read twice and referred to the Committee on Finance.
Jul 28, 2026
Summary
The bill modifies the Internal Revenue Code of 1986 to alter the procedures governing tax penalties and the periods during which tax benefits can be disallowed. It would affect taxpayers and the Internal Revenue Service by changing how and when penalties are assessed. The change is intended to adjust existing enforcement processes.
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