Limits tax fraud exception to taxpayer intent

Limits the tax fraud exception so the Internal Revenue Service can assess taxes at any time only when the taxpayer meant to evade taxes, and expands penalties on tax preparers.

• The Internal Revenue Service may assess taxes at any time only if the taxpayer intended to evade taxes
• Tax preparers could face penalties for false federal tax returns, partnership adjustment requests and tracking reports
• Penalties currently apply only if documents are valid submissions to the agency
• The agency generally has three years from filing to assess taxes

Passed the House · Senate's turn

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