summary
Introduced
03/22/2024
03/22/2024
In Committee
03/22/2024
03/22/2024
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to amend the Internal Revenue Code of 1986 to postpone tax deadlines and reimburse paid late fees for United States nationals who are unlawfully or wrongfully detained or held hostage abroad, and for other purposes.
AI Summary
This bill, the Stop Tax Penalties on American Hostages Act of 2024, aims to amend the Internal Revenue Code to postpone tax deadlines and reimburse paid late fees for U.S. nationals who are unlawfully or wrongfully detained or held hostage abroad. The key provisions include disregarding the period of unlawful or wrongful detention or hostage-taking when determining tax liabilities, interest, penalties, and credits/refunds for the affected individuals and their spouses. The bill also establishes a program for the IRS, in consultation with the Departments of State and Justice, to identify and notify eligible individuals to apply for refunds or abatement of any penalties or fines paid due to the extended detention or hostage situation. The amendments would apply to taxable years ending after the bill's enactment.
Committee Categories
Budget and Finance
Sponsors (8)
Chris Coons (D)*,
Ben Cardin (D),
Bill Cassidy (R),
Mike Rounds (R),
Rick Scott (R),
Thom Tillis (R),
Chris Van Hollen (D),
Ron Wyden (D),
Last Action
Read twice and referred to the Committee on Finance. (on 03/22/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/4057/all-info |
| BillText | https://www.congress.gov/118/bills/s4057/BILLS-118s4057is.pdf |
Loading...