Presidential Tax Accountability and Audit Integrity Act

The **Presidential Tax Accountability and Audit Integrity Act** restricts the Department of the Treasury from granting or enforcing special tax agreements or waivers for a sitting President, their family, and related businesses. Specifically, the bill: * Prohibits the Secretary of the Treasury from issuing or recognizing agreements, waivers, releases, or orders ("covered instruments") that affect federal tax matters for covered individuals while a President is in office. * Requires the Treasury Secretary to submit public reports to Congress regarding these tax agreements and government enforcement actions. * Authorizes the IRS to share relevant tax return information publicly to comply with these congressional reporting mandates. * Extends the timeframe (statute of limitations) for the IRS to assess and collect taxes related to these agreements.

This legislation applies to: * **The sitting President of the United States.** * **The President's family members:** Includes children, parents, siblings, step-relatives, and specified in-laws. * **Related business entities:** Businesses and persons under common control with the President or their family members under standard tax code rules. * **Government Agencies:** The Department of the Treasury and the Internal Revenue Service (IRS), which are assigned specific enforcement and reporting duties. * **Congress and the Public:** Who will receive and have access to mandatory public tax enforcement reports.

* **Prohibition on Tax Agreements:** The Treasury Secretary is required to treat any covered tax instrument issued during a presidency as having no legal effect and cannot enter into new ones. This prohibition applies retroactively and prospectively to instruments made on, before, or after January 20, 2025. * **Public Reporting Deadlines:** * The Treasury Secretary *must* submit an initial public report to Congress within 7 days of executing a covered tax instrument (or within 7 days of the bill's enactment for past instruments). * The Treasury Secretary *must* continue submitting public reports every 30 days thereafter. * **Tax Privacy Rules:** The bill amends federal tax privacy laws to explicitly permit the IRS to disclose relevant tax return details to the general public, strictly for the purpose of meeting the mandatory reporting requirements. * **Extended Collection Deadlines:** For covered instruments issued between January 20, 2025, and the date the bill becomes law, the IRS's legal deadline to assess unpaid taxes or start court proceedings to collect them is extended. The deadline will not expire until the later of: * 3 years after the President's term in office ends; or * The standard statutory limit under existing tax law.

The bill summary does not outline specific monetary appropriations, tax rate changes, or federal funding allocations. It focuses on administrative tax rules, timelines, and reporting requirements related to specific individuals.

* **Purpose Limit on Privacy Waivers:** The IRS is permitted to publicly disclose private tax return information *solely* to fulfill the congressional reporting requirements mandated by this bill. * **Duration of Ongoing Reports:** Mandatory 30-day reporting stops on whichever date comes first: 3 years after the President leaves office, or the date the covered tax instrument is officially canceled (rescinded). * **Legal Interpretation Limit:** The bill explicitly states that invalidating these tax instruments does not imply that any covered instrument was legally valid or enforceable before the legislation was enacted.

This bill prevents the Treasury Department from granting or honoring special tax waivers or settlement agreements for a sitting President, their family, or their companies. It forces the government to report publicly on these tax matters and gives the IRS extra time after a presidency ends to collect any owed taxes.