Bill > HR9495

This bill, the Stop Terror-Financing and Tax Penalties on American Hostages Act, has several key provisions: 1. It amends the Internal Revenue Code to postpone tax deadlines and reimburse late fees for U.S. nationals who are unlawfully or wrongfully detained or held hostage abroad. This applies to the time period during which the individual was detained or held hostage, and allows for the abatement and refund of any related penalties or interest. 2. It establishes a program to allow eligible individuals (or their spouses/dependents) who paid penalties or interest related to their detention/hostage situation prior to the enactment of this bill to apply for a refund or abatement of those amounts. 3. It allows the Secretary of the Treasury to terminate the tax-exempt status of any organization designated as a "terrorist supporting organization" - defined as an organization that has provided material support to a terrorist organization in the past 3 years. This designation and termination process includes notice requirements and administrative appeal procedures. The overall goal of the bill is to provide relief from tax-related penalties and interest for American citizens who have been unlawfully detained or taken hostage abroad, and to limit the ability of terrorist-supporting organizations to maintain tax-exempt status.

Budget and Finance

https://www.congress.gov/bill/118th-congress/house-bill/9495/all-info