,i #aai? ,,congress #b;d ,session ,h4 ,r4 #iagd ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,june #h1 #bjbf,mr4 ,bean ( ,florida introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to e/abli% ! ,digital ,assets ,volunt>y ,disclosure ,program4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,digital ,assets ,volunt>y ,disclosure ,program ,act4 #b4 ,e/abli%m5t ( ,digital ,assets ,volunt>y ,disclosure ,program 7a7 ,9 g5]al ,n lat] ?an #ab mon?s aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y %all e/abli% ! ,digital ,assets ,volunt>y ,disclosure ,program 7h]e9aft] ref]r$ to z ! program7 to all[ eligible taxpay]s to rem$y digital assets violations by fulfill+ ! rem$ial requirem5ts describ$ 9 subsection 7b74 7b7 ,rem$ial requirem5ts ,! rem$ial requirem5ts ( ?is subsection are fulfill$ if1 at su* "t & 9 su* mann] z ! ,secret>y det]m9es appropriate-- 7#a7 9 ! case ( an unc]tifi$ eligible taxpay]1 su* taxpay]-- 7,a7 submits an application to p>ticipate 9 ! program1 7,b7 files1 n lat] ?an #bd mon?s aft] ! date on :i* ! ,secret>y e/abli%es ! program1 an am5d$ return = ea* applicable taxable ye> ) respect to :i* ! prop] am\nt ( any tax item is affect$ by any digital assets violation1 7,c7 not)/&+ ! expiration ( any p]iod ( limitation on assessm5t1 provides imm$iate paym5t1 or ent]s into 7& is 9 compliance )7 an in/allm5t agreem5t "u section #faei to provide paym5t1 (-- 7i7 ! aggregate am\nt ( ! defici5cy ( tax 7includ+ any int]e/ !reon7 attributable to all digital assets violations1 & 7ii7 ! digital assets violation p5alty1 & 7,d7 fulfills su* o!r requirem5ts1 & provides su* o!r in=mation1 z ! ,secret>y det]m9es appropriate1 & 7#b7 9 ! case ( a c]tifi$ eligible taxpay]1 su* taxpay] fulfills ! requirem5ts ( subp>agraphs 7,b71 7,c71 & 7,d7 ( p>agraph 7#a74 ,= purposes ( p>agraph 7#a77;,a71 ! ,secret>y may impose a reasonable fee = submission ( an application to p>ticipate 9 ! program4 7c7 ,b5efits ,if ! rem$ial requirem5ts describ$ 9 subsection 7b7 h be5 fulfill$ to ! satisfaction ( ! ,secret>y-- 7#a7 9 ! case ( an unc]tifi$ eligible taxpay]-- 7,a7 paym5t ( ! digital assets violation p5alty "u subsection 7b77#a77;,c77ii7 %all waive all fur!r p5alties "u sections #fffb & #fffc ) respect to any defici5cy ( tax attributable to any digital assets violation prop]ly disclos$ by ! taxpay] "u ! program1 & 7,b7 ! ,secret>y %all n use any in=mation prop]ly disclos$ by ! taxpay] "u ! program = purposes ( ref]r+ su* taxpay] = crim9al inve/igation1 or prosecut+ su* taxpay]1 "u section #gbja1 #gbjc1 or #gbjf 7o!r ?an p>agraph 7#b7 !re(7 ) respect to any digital assets violation prop]ly disclos$ by ! taxpay] "u ! program1 & 7#b7 9 ! case ( a c]tifi$ eligible taxpay]1 paym5t ( ! digital assets violation p5alty "u subsection 7b77#a77;,c77ii7 %all waive all fur!r p5alties "u section #fffb ) respect to any defici5cy ( tax attributable to any digital assets violation prop]ly disclos$ by ! taxpay] "u ! program4 7d7 ,def9itions ,= purposes ( ?is section-- 7#a7 ,eligible taxpay] 7,a7 ,9 g5]al ,! t]m eligible taxpay] means any unc]tifi$ eligible taxpay] or c]tifi$ eligible taxpay]4 7,b7 ,unc]tifi$ eligible taxpay] ,! t]m unc]tifi$ eligible taxpay] means any taxpay] :o-- 7i7 committ$ any digital assets violation dur+ ! applicable p]iod1 7ii7 does n c]tify1 "u p5alty ( p]jury1 t no digital assets violation occurr+ dur+ ! applicable p]iod 0 committ$ fraudul5tly or willfully1 & 7iii7 if subject to-- 7,i7 any ongo+ crim9al inve/igation ) respect to any digital assets violation1 or 7,,ii7 any ongo+ audit or exam9ation by ! ,int]nal ,rev5ue ,s]vice ) respect to any applicable taxable ye>1 has be5 issu$ a waiv] by ! ,secret>y to none!less p>ticipate 9 ! program4 7,c7 ,c]tifi$ eligible taxpay] ,! t]m c]tifi$ eligible taxpay] means any taxpay] :o-- 7i7 committ$ any digital assets violation dur+ ! applicable p]iod1 7ii7 c]tifies1 "u p5alty ( p]jury1 t no digital assets violation occurr+ dur+ ! applicable p]iod 0 committ$ fraudul5tly or willfully1 & 7iii7 if subject to any ongo+ audit or exam9ation by ! ,int]nal ,rev5ue ,s]vice ) respect to any applicable taxable ye>1 has be5 issu$ a waiv] by ! ,secret>y to none!less p>ticipate 9 ! program4 7#b7 ,digital assets violation 7,a7 ,9 g5]al ,! t]m digital assets violation means1 ) respect to any eligible taxpay]1 any in/ance 9 :i* su* taxpay] fail$ to comply ) a requirem5t "u ! ,int]nal ,rev5ue ,code ( #aihf if-- 7i7 su* in/ance relates to ! own]%ip (1 or transactions 91 digital assets dur+ ! applicable p]iod1 & 7ii7 su* failure affects ! prop] am\nt ( any tax item ) respect to any applicable taxable ye>4 7,b7 ,digital asset ,= purposes ( subp>agraph 7,a71 ! t]m digital asset means1 except z o!rwise provid$ by ! ,secret>y1 any digital repres5tation ( value :i* is record$ on a cryptographically secur$ di/ribut$ l$g] or any simil> te*nology z specifi$ by ! ,secret>y4 7#c7 ,applicable p]iod ,! t]m applicable p]iod means1 ) respect to any eligible taxpay]1 ! p]iod-- 7,a7 beg9n+ ) ! lat] (-- 7i7 ! taxpay]'s fir/ taxable ye> ) respect to :i* ! prop] am\nt ( any tax item is affect$ by any digital assets violation1 or 7ii7 ! taxpay]'s fir/ taxable ye> ) respect to :i* a return ( tax 0 fil$ dur+ ! #f-ye> p]iod 7#c-ye> p]iod 9 ! case ( a c]tifi$ eligible taxpay]7 imm$iately prec$+ ! date ( ! enactm5t ( ?is ,act1 & 7,b7 end+ ) ! taxpay]'s la/ taxable ye> end+ be=e ! date ( ! enactm5t ( ?is ,act4 7#d7 ,applicable taxable ye> ,! t]m applicable taxable ye> means1 ) respect to any eligible taxpay]1 any taxable ye> dur+ ! applicable p]iod ) respect to su* taxpay]4 7#e7 ,digital assets violation p5alty 7,a7 ,9 g5]al ,! digital assets violation p5alty is an am\nt equal to ! sum (-- 7i7 #be p]c5t 7#j p]c5t 9 ! case ( a c]tifi$ eligible taxpay]7 ( ! aggregate am\nt ( s mu* ( ! defici5cy ( tax attributable to all digital assets violations z does n exce$ #be1jjj ) respect to ea* applicable taxable ye>1 plus 7ii7 #dj p]c5t 7#e p]c5t 9 ! case ( a c]tifi$ eligible taxpay]7 ( ! aggregate am\nt ( s mu* ( ! defici5cy ( tax attributable to all digital assets violations z exce$s #be1jjj ) respect to ea* applicable taxable ye>4 7,b7 ,special rules = am5d$ returns fil$ aft] c]ta9 date ,9 ! case ( an am5d$ return ) respect to any applicable taxable ye> fil$ aft] ! date t is #ab mon?s aft] ! date on :i* ! ,secret>y e/abli%es ! program1 subp>agraph 7,a7 %all be appli$ ) respect to su* applicable taxable ye>-- 7i7 by sub/itut+ #dj p]c5t 9 lieu ( #be p]c5t 9 clause 7i7 !re(1 7ii7 by sub/itut+ #e p]c5t 9 lieu ( #j p]c5t 9 clause 7i7 !re(1 7iii7 by sub/itut+ #ej p]c5t 9 lieu ( #dj p]c5t 9 clause 7ii7 !re(1 7iv7 by sub/itut+ #aj p]c5t 9 lieu ( #e p]c5t 9 clause 7ii7 !re(1 & 7v7 9 ! case ( a c]tifi$ eligible taxpay]1 by sub/itut+ #ajj1jjj 9 lieu ( #be1jjj ea* place x appe>s4 7,c7 ,waiv] by ,secret>y ,! ,secret>y may waive "p or all ( ! digital assets violation p5alty to ! ext5t ! ,secret>y det]m9es t su* a waiv] w\ld be 9 ! int]e/s ( ju/ice & ! prop] adm9i/ration ( ! int]nal rev5ue laws1 includ+ 9 cases involv+ digital assets violations attributable to reasonable cause 7z det]m9$ by ! ,secret>y74 7#f7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ! ,treasury or ! ,secret>y's delegate4 7e7 ,applicability ( section #fffe ( ,int]nal ,rev5ue ,code ( #aihf ,= purposes ( ?is section1 any defici5cy ( tax or digital assets violation p5alty %all be assess$1 collect$1 & paid 9 ! same mann] z taxes1 z provid$ 9 section #fffe7;a7 7)\t reg>d to any re/rictions on assessm5t describ$ 9 section #fbac74 7f7 ,ref]5ces to ,int]nal ,rev5ue ,code ( #aihf ,except z o!rwise expressly provid$1 :5ev] 9 ?is section a ref]5ce is made to a section1 ! ref]5ce %all be consid]$ to be made to a section ( ! ,int]nal ,rev5ue ,code ( #aihf4 7g7 ,regulatory au?ority ,! ,secret>y %all prescribe su* regulations or o!r guidance z may be necess>y or appropriate to c>ry out ! purposes ( ?is section1 includ+ ) respect to ! provision ( reasonable assurances to taxpay]s t any in=mation prop]ly disclos$ "u ! program %all n be us$ 9 contrav5tion ( any b5efit describ$ 9 subsection 7c74