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H.R. 6970 - Presidential Tax Transparency Act

Introduced: 2018-09-28
Bill Status: Referred to the House Committee on Ways and Means.
 

Presidential Tax Transparency Act

This bill amends the Internal Revenue Code to require the Internal Revenue Service (IRS) to disclose and make publicly available tax returns and return information for certain candidates for President and Vice President of the United States. The requirement applies to tax returns and return information for the 10-year period before the individual becomes a candidate.

The disclosure may not include the Social Security number of any individual, any financial account number, the name of any individual under age 18, or the home address of any individual (other than the city and state in which the address is located).

Full Text


115th CONGRESS
2d Session
H. R. 6970


    To amend the Internal Revenue Code of 1986 to require public disclosure of individual tax returns of candidates for President and Vice President of the United States.


IN THE HOUSE OF REPRESENTATIVES

September 28, 2018

    Mr. Fitzpatrick (for himself and Mr. Suozzi) introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

    To amend the Internal Revenue Code of 1986 to require public disclosure of individual tax returns of candidates for President and Vice President of the United States.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Presidential Tax Transparency Act”.

SEC. 2. Disclosure of returns and return information of candidates for President and Vice President of the United States.

(a) In general.—Subsection (k) of section 6103 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:

“(13) DISCLOSURE OF RETURNS AND RETURN INFORMATION OF CANDIDATES FOR PRESIDENT AND VICE PRESIDENT OF THE UNITED STATES.—

“(A) IN GENERAL.—The Secretary shall disclose and make publicly available returns and return information, except as provided in subparagraphs (B) and (C), of any candidate (as defined in section 9002(2)).

“(B) EXCEPTIONS.—The information disclosed under subparagraph (A) shall not include the Social Security number of any individual, any financial account number, the name of any individual under age 18, or any home address of any individual (other than the city and State in which such address is located).

“(C) SCOPE.—Subparagraph (A) shall apply to any return, and return information included on any return, which is filed within the 10 taxable years preceding the year in which the individual becomes a candidate (as so defined).”.

(b) Effective date.—The amendment made by this section shall apply to individuals becoming a candidate (within the meaning of section 9002(2)) of the Internal Revenue Code of 1986) after the date of the enactment of this Act.


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