S. 5173: Fairness in Foreign Filing Act

S. 5173 is a federal bill in the 119th Congress. Taxpayers who face specific penalties for failing to report foreign assets or financial information will now receive a preliminary written notice from the IRS at least sixty days before any penalty can be assessed or collected. Previously, the IRS could… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.