,,ii  #aag? ,,congress  #b;d ,session   
,h4 ,r4 #ifdj  ,,9 ,,! ,,s5ate ,,( ,,!  
,,unit$ ,,/ates  ,decemb] #bb1          
#bjbb,receiv$  ,,an ,,act  ,to am5d !   
,int]nal ,rev5ue ,code ( #aihf to       
provide = exam9ation & disclosure )     
respect to ,presid5tial income tax      
returns4  #a4 ,%ort title ,?is ,act may 
be cit$ z ! ,presid5tial ,tax ,fil+s &  
,audit ,transp>5cy ,act ( #bjbb4  #b4   
,exam9ation & disclosure ) respect to   
,presid5tial income tax returns  7a7    
,audit ,sub*apt] ,a ( *apt] #gh ( !     
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by r$esignat+ section #gfac z section   
#gfad & by ins]t+ aft] section #gfab !  
foll[+ new section3  #gfac4 ,exam9ation 
) respect to ,presid5tial income tax    
returns  7a7 ,9 g5]al ,z rapidly z      
practicable aft] ! fil+ ( any           
,presid5tial income tax return1 !       
,secret>y %all conduct an exam9ation to 
asc]ta9 ! correctness ( su* return &    
en=ce ! requirem5ts ( ?is title )       
respect to ! taxable ye> cov]$ by su*   

return4  7b7 ,reports  7#a7 ,initial    
report ,n lat] ?an #ij days aft] ! fil+ 
( a ,presid5tial income tax return1 !   
,secret>y %all disclose & make publicly 
available an initial report reg>d+ !    
exam9ation ) respect to su* return4 ,su*
 report %all include-- 7,a7 ! "n ( !    
taxpay]1  7,b7 an id5tification ( !     
subp>agraph ( subsection 7c77#a7 :i*    
describes su* return1  7,c7 ! date t su*
 return 0 fil$1 &  7,d7 ! date on :i* ! 
exam9ation ) respect to su* return      
comm5c$ 7or1 if su* exam9ation has n    
comm5c$ z ( ! date ( su* report1 a      
detail$ description ( ! reasons t su*   
exam9ation has n comm5c$74  7#b7        
,p]iodic reports ,n lat] ?an #ahj days  
aft] ! disclosure ( ! report describ$ 9 
p>agraph 7#a7 ) respect to any          
,presid5tial income tax return & n lat] 
?an #ahj days aft] ! mo/ rec5t          
disclosure ( a report describ$ 9 ?is    
p>agraph ) respect to su* return1 !     
,secret>y %all disclose & make publicly 
available a p]iodic report reg>d+ !     

exam9ation ) respect to su* return4 ,su*
 report %all include-- 7,a7 ! in=mation 
describ$ 9 subp>agraphs 7,a7 ?r\gh 7,d7 
( p>agraph 7#a71  7,b7 a description ( !
 /atus ( ! exam9ation1 includ+ a        
description ( ! portions ( ! exam9ation 
:i* h be5 complet$1 :i* are 9 process1 &
 :i* are anticipat$ to take place1 &    
7,c7 an e/imate ( ! "t frame = !        
completion ( ! exam9ation1 includ+ an   
id5tification ( factors :i* c\ld alt]   
su* "t frame1 reasonable e/imates ( !   
likelihood ( su* factors 7tak+ into     
acc\nt ! specific facts & circum/ances (
 ! exam9ation71 & ! likely specific     
effects ( su* factors on su* "t frame4  
,not)/&+ ! prec$+ s5t5ce1 a p]iodic     
report %all n be requir$ "u ?is p>agraph
 ) respect to any return aft] ! date on 
:i* a f9al report is disclos$ "u        
p>agraph 7#c7 ) respect to su* return4  
7#c7 ,f9al report ,n lat] ?an #ij days  
aft] ! completion ( ! exam9ation        
describ$ 9 subsection 7a7 ) respect to  
any ,presid5tial income tax return1 !   

,secret>y %all disclose & make publicly 
available a f9al report reg>d+ su*      
exam9ation4 ,su* report %all include--  
7,a7 ! in=mation describ$ 9 subp>agraphs
 7,a7 ?r\gh 7,c7 ( p>agraph 7#a71  7,b7 
! date on :i* ! exam9ation ) respect to 
su* return 0 complet$1  7,c7 a li/ ( !  
audit mat]ials 7z def9$ 9 section       
#fajc7q77#b77 ) respect to su*          
exam9ation1 &  7,d7 a description       
7includ+ ! am\nt7 ( ea* propos$         
adju/m5t1 adju/m5t1 & controv]sy )      
respect to su* exam9ation toge!r ) a    
description ( h[ su* propos$ adju/m5t or
 controv]sy 0 resolv$ 7or a /atem5t t   
su* propos$ adju/m5t or controv]sy 0 n  
resolv$1 z ! case may be74  ,= purposes 
( ?is p>agraph1 an exam9ation %all be   
treat$ z complete on ! date t !         
,secret>y provides ! taxpay] ) a notice 
( defici5cy1 or any clos+ docum5t ref]r$
 to 9 section #fajc7q77#b77;,a77v71 )   
respect to su* exam9ation4  7#d7        
,ext5sion ( due date report ,if a reque/
 is made = an ext5sion ( ! due date =   

fil+ any ,presid5tial income tax return1
 ! ,secret>y %all1 n lat] ?an #ij days  
aft] su* reque/ is grant$ or d5i$1      
disclose & make publicly available an   
ext5sion ( due date report ) respect to 
return4 ,su* report %all include-- 7,a7 
! in=mation describ$ 9 subp>agraphs 7,a7
 & 7,b7 ( p>agraph 7#a71  7,b7 a /atem5t
 t an ext5sion ( ! due date = ! fil+ (  
su* return has be5 reque/$1  7,c7 ! date
 t su* reque/ 0 receiv$1  7,d7 a /atem5t
 ( :e!r su* reque/ has be5 grant$ or    
d5i$1 &  7,e7 ! due date ( su* return   
7includ+ any ext5sions74  7#e7 ,treatm5t
 ( failure to file ,9 ! case ( a failure
 to file a ,presid5tial income tax      
return be=e ! close ( ! #fj-;day p]iod  
beg9n+ ) ! date prescrib$ = fil+ ( su*  
return-- 7,a7 ! ,secret>y %all conduct !
 exam9ation describ$ 9 subsection 7a7 ) 
respect to ! taxable ye> cov]$ by !     
return to :i* su* failure relates1  7,b7
 reports made pursuant to ?is p>agraph  
%all include a /atem5t t su* report is )
 respect to a return :i* ! taxpay] fail$

 to file1 &  7,c7 ?is section & section 
#fajc7q7 %all o!rwise apply to su*      
failure 9 ! same mann] z if a return 7  
fil$ at ! close ( su* p]iod4  ,!        
application ( ?is p>agraph ) respect to 
any failure to file a ,presid5tial      
income tax return %all n prev5t !       
application ( ?is section ) respect to  
su* return at su* "t z su* return may be
 fil$4  7#f7 ,public availability ,=    
purposes ( ?is subsection1 a docum5t    
%all n be treat$ z hav+ be5 made        
publicly available unless made available
 on ! ,int]net4  7c7 ,presid5tial income
 tax return ,= purposes ( ?is section-- 
7#a7 ,9 g5]al ,! t]m ,presid5tial income
 tax return means any relevant income   
tax return (-- 7,a7 a ,presid5t1  7,b7  
an individual :o is m>ri$ 7)9 ! mean+ ( 
section #ggjc7;a77 to a ,presid5t = !   
taxable ye> to :i* su* return relates1  
7,c7 any corporation or p>tn]%ip :i* is 
controll$ by any individual describ$ 9  
subp>agraph 7,a7 or 7,b7 at any "t dur+ 
! taxable ye> to :i* su* return relates1

  7,d7 ! e/ate ( any p]son describ$ 9   
7,a7 or 7,b7 or any e/ate ) respect to  
:i* any p]son describ$ 9 subp>agraph    
7,a71 7,b71 or 7,c7 is an executor1 or  
b5efici>y at any "t dur+ ! taxable ye>  
to :i* su* return relates1 &  7,e7 any  
tru/ ) respect to :i* any p]son describ$
 9 subp>agraph 7,a71 7,b71 7,c71 or 7,d7
 is a grantor1 fiduci>y or b5efici>y1 or
 = :i* ano!r tru/ describ$ 9 ?is        
subp>agraph is a grantor or b5efici>y1  
at any "t dur+ ! taxable ye> to :i* su* 
return relates4  ,su* t]m %all include  
any s*$ule1 atta*m5t1 or o!r docum5t    
fil$ ) su* return4  7#b7 ,relevant      
income tax return ,! t]m relevant income
 tax return means1 ) respect to a       
,presid5t1 any income tax return if--   
7,a7 any portion ( ! taxable ye> to :i* 
su* return relates is dur+ ! p]iod t su*
 ,presid5t is ! ,presid5t1  7,b7 ! due  
date = su* return 7includ+ any          
ext5sions7 is dur+ su* p]iod1 or  7,c7  
su* return is fil$ dur+ su* p]iod4  7#c7
 ,control ,= purposes ( p>agraph        

7#a77;,c7-- 7,a7 ,9 g5]al ,except z     
o!rwise provid$ 9 ?is p>agraph1 control 
%all be det]m9$ "u ! rules ( p>agraphs  
7#b7 & 7#c7 ( section #fjch7;e7 7det]m9$
 )\t reg>d to subp>agraphs 7,a7 & 7,b7 (
 su* p>agraph 7#b7 & )\t reg>d to       
subp>agraph 7,c7 ( p>agraph 7#c7 !re(74 
7,b7 ,re/riction on family attribution  
7i7 ,9 g5]al ,except z provid$ 9 clause 
7ii71 = purposes ( apply+ subp>agraph   
7,a7-- 7,i7 section #cah %all appli$ )\t
 reg>d to subsection 7a77#a77;,a77ii7   
!re(1 &  7,,ii7 section #bfg7;c7 %all   
appli$ by treat+ ! family ( an          
individual z includ+ only su*           
individual's sp\se 79 lieu ( !          
application ( p>agraph 7#d7 !re(74  7ii7
 ,exception = rec5t transf] to family   
memb]s ,= purposes ( det]m9+ :e!r any   
corporation or p>tn]%ip is controll$ by 
a ,presid5t "u p>agraph 7#a77;,c7 = any 
taxable ye>1 clause 7i7 %all n apply if 
su* corporation or p>tn]%ip 0 controll$ 
by su* ,presid5t 7aft] application (    
clause 7i77 at any "t dur+ ! #d         

imm$iately prec$+ taxable ye>s4  7d7    
,application to am5d$ returns ,=        
purposes ( ?is section & section        
#fajc7q71 any am5dm5t or supplem5t to a 
return ( tax %all be treat$ z a sep>ate 
return ( tax & ! det]m9ation ( :5 su*   
am5dm5t or supplem5t is fil$1 & :e!r su*
 am5dm5t or supplem5t is a relevant     
income tax return1 %all be made )\t     
reg>d to ! und]ly+ return4  4  7b7      
,disclosure ,section #fajc ( su* ,code  
is am5d$ by r$esignat+ subsection 7q7 z 
subsection 7r7 & by ins]t+ aft]         
subsection 7p7 ! foll[+ new subsection3 
7q7 ,disclosure ) respect to            
,presid5tial income tax returns  7#a7 ,9
 g5]al ,! ,secret>y %all disclose & make
 publicly available 7)9 ! mean+ (       
section #gfac7;b77-- 7,a7 ea*           
,presid5tial income tax return 7z def9$ 
9 section #gfac7;c771  7,b7 ea* report  
describ$ 9 section #gfac7;b71 &  7,c7   
any audit mat]ials ) respect a return   
describ$ 9 subp>agraph 7,a74  7#b7      
,audit mat]ials ,! t]m audit mat]ials   

means1 ) respect to any return3 7,a7    
,any ( ! foll[+ :i* are provid$ by !    
,secret>y to ! taxpay] 7or any designee 
( ! taxpay]73 7i7 ,any writt5           
communication :i* id5tifies su* return z
 be+ subject to exam9ation4  7ii7 ,any  
writt5 communication :i* proposes !     
adju/m5t ( any item on su* return1 any  
report by an exam9] relat$ to su*       
propos$ adju/m5t1 & any sup]visory      
approval ( any p5alty propos$ z "p ( su*
 adju/m5t4  7iii7 ,any memor&um or      
report ( ! ,int]nal ,rev5ue ,s]vice     
,indep5d5t ,(fice ( ,appeals ) respect  
to su* return1 & any d5ial ( any reque/ 
describ$ 9 subp>agraph 7,b74  7iv7 ,any 
notice ( defici5cy ) respect to su*     
return4  7v7 ,any clos+ docum5ts )      
respect to ! exam9ation ( su* return1   
includ+ any clos+ agreem5t or no *ange  
lett]4  7,b7 ,any reque/ = ref]ral to ! 
,int]nal ,rev5ue ,s]vice ,indep5d5t     
,(fice ( ,appeals ( any controv]sy )    
respect to su* return4  7,c7 ,any       
petition fil$ ) ! ,tax ,c\rt = a        

r$et]m9ation ( any defici5cy ref]r$ to 9
 subp>agraph 7,a77iv74  7#c7 ,exception 
= c]ta9 id5tity in=mation ,! in=mation  
disclos$ & made publicly available "u   
p>agraph 7#a7 %all n include any        
id5tification numb] ( any p]son 7includ+
 any social security numb]71 any        
f9ancial acc\nt numb]1 ! "n ( any       
individual :o has n atta9$ age #ah 7z ( 
! close ( ! taxable ye> to :i* ! return 
relates71 ! "n ( any employee ( !       
,dep>tm5t ( ! ,treasury1 or any address 
7o!r ?an ! city & ,/ate 9 :i* su*       
address is locat$74  7#d7 ,tim+ (       
disclosures ,any in=mation requir$ to be
 disclos$ "u p>agraph 7#a7 %all be      
disclos$ & made publicly available n    
lat] ?an-- 7,a7 9 ! case ( any income   
tax return ref]r$ to 9 p>agraph         
7#a77;,a71 #ij days aft] ! date t su*   
return is fil$1  7,b7 9 ! case ( any    
report ref]r$ to 9 p>agraph 7#a77;,b71 !
 deadl9e specifi$ 9 section #gfac7;b7 = 
disclos+ su* report1 &  7,c7 9 ! case ( 
! audit mat]ials ref]r$ to 9 p>agraph   

7#a77;,c71 #ij days aft] ! completion ( 
! exam9ation 7)9 ! mean+ ( section      
#gfac7;b77#c77 ) respect to ! return to 
:i* su* audit mat]ials relate4  4  7c7  
,cl]ical am5dm5t ,sub*apt] ,a ( *apt]   
#gh ( su* ,code is am5d$ by r$esignat+ !
 item relat+ to section #gfac z an item 
relat+ to section #gfad & by ins]t+ aft]
 ! item relat+ to section #gfab ! foll[+
 new item3  ,sec4 #gfac4 ,exam9ation )  
respect to ,presid5tial income tax      
returns4  4  7d7 ,effective date ,!     
am5dm5ts made by ?is subsection %all    
apply to returns1 am5dm5ts1 & supplem5ts
 fil$ 7& failures to file returns :i*   
occur7 aft] ! date ( ! enactm5t ( ?is   
,act 7& to reports & audit mat]ials )   
respect to su* returns1 am5dm5ts1       
supplem5ts1 & failures74  ,pass$ ! ,h\se
 ( ,repres5tatives ,decemb] #bb1        
#bjbb4;,*]yl ,l4 ,johnson1,cl]k4,kev9   
,f4 ,mc,cumber1,deputy ,cl]k