S. 5143: A bill to amend the Internal Revenue Code of 1986 to modify procedural requirements for penalties and disallowance periods.

S. 5143 is a federal bill in the 119th Congress. Currently, Internal Revenue Service rules require certain supervisory approvals for tax penalties, but the exact timing and procedural requirements have left room for confusion regarding when and how those approvals must be secured. Under this bill, before… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.