,,ii  #aai? ,,congress  #a/ ,session    
,s4 #bceh  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #ba1 #bjbe,mr4   
,scott ( ,s\? ,c>ol9a 7= himself1 ,ms4  
,lummis1 ,mr4 ,tillis1 ,mr4 ,grassley1  
,mr4 ,b>rasso1 ,mr4 ,crapo1 & ,mr4      
,ris*7 introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to modify !       
proc$ural rules = p5alties4  #a4 ,%ort  
title ,?is ,act may be cit$ z ! ,,irs   
,acc\ntability & ,taxpay] ,protection   
,act 4  #b4 ,modification ( proc$ural   
requirem5ts = p5alties & disall[ance    
p]iods  7a7 ,9 g5]al ,section #fgea7;b7 
( ! ,int]nal ,rev5ue ,code ( #aihf is   
am5d$-- 7#a7 by /rik+ p>agraph 7#a7 &   
ins]t+ ! foll[+3  7#a7 ,9 g5]al ,no     
p5alty "u ?is title %all be assess$1 &  
no disall[ance p]iod %all take effect1  
unless-- 7,a7 ! initial det]m9ation to  
apply su* p5alty or disall[ance p]iod1 z
 applicable1 is p]sonally approv$ 79    
writ+7 by ! imm$iate sup]visor ( !      

individual mak+ su* det]m9ation1 &  7,b7
 ! approval describ$ 9 subp>agraph 7,a7 
is obta9$ on or be=e ! date any notice  
is s5t to ! taxpay] reg>d+ ! application
 ( su* p5alty or disall[ance p]iod4  1 &
  7#b7 by add+ at ! end ! foll[+3  7#c7 
,initial det]m9ation  7,a7 ,9 g5]al ,=  
purposes ( ?is subsection1 ! t]m initial
 det]m9ation means ! fir/ det]m9ation1  
provid$ 9 a writt5 notice to a taxpay]1 
t1 bas$ on specific facts & circum/ances
 ) respect to su* taxpay]-- 7i7 a       
specific p5alty applies to su* taxpay] =
 a specific am\nt1 or  7ii7 a           
disall[ance p]iod applies to su* taxpay]
 = a specific p]iod4  7,b7 ,reque/s or  
inquiries ,no reque/ or inquiry made by 
! ,secret>y %all be deem$ to be an      
initial det]m9ation unless su* reque/ or
 inquiry provides ! taxpay] ) an (f] to 
agree to a specific p5alty = a specific 
am\nt 7) ! exception ( any p5alty (f]$  
"u a settlem5t initiative to a class (  
taxpay]s7 or a disall[ance p]iod = a    
specific p]iod4  4  7b7 ,disall[ance    

p]iod ,section #fgea ( ! ,int]nal       
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new subsection3  7d7  
,disall[ance p]iod  7#a7 ,9 g5]al ,=    
purposes ( ?is section1 ! t]m           
disall[ance p]iod means-- 7,a7 ) respect
 to any cr$it "u section #bd1 ! p]iod   
det]m9$ "u section #bd7;g77#a71  7,b7 ) 
respect to any cr$it "u section #be;,a1 
! p]iod det]m9$ "u section              
#be;,a7b77#d77;,a71 &  7,c7 ) respect to
 any cr$it "u section #cb1 ! p]iod      
det]m9$ "u section #cb7k77#a74  7#b7    
,approval requir$ = disall[ance p]iod   
automatically calculat$ ?r\gh electronic
 means ,) respect to ! application ( any
 disall[ance p]iod1 subsection          
7b77#b77;,b7 %all n apply4  4  7c7      
,effective date ,! am5dm5ts made by ?is 
section %all apply to notices s5t aft] !
 date ( ! enactm5t ( ?is ,act4  7d7     
,report ,n lat] ?an #bd mon?s aft] !    
date ( enactm5t ( ?is ,act1 & annually  
!reaft]1 ! ,secret>y ( ! ,treasury 7or !
 ,secret>y's delegate7 %all make        

publicly available a report reg>d+ all  
p5alties assess$ by ! ,int]nal ,rev5ue  
,s]vice pursuant to ! ,int]nal ,rev5ue  
,code ( #aihf dur+ ! prec$+ cal5d> ye>1 
) all relevant data reg>d+ su* p5alties 
to be collect$ & report$ ) respect to-- 
7#a7 e organizational unit ( ! ,int]nal 
,rev5ue ,s]vice t has p[] to assess1    
abate1 or o!rwise en=ce any p5alty      
impos$ by ! ,int]nal ,rev5ue ,s]vice "u 
! ,int]nal ,rev5ue ,code ( #aihf1 &     
7#b7 ! progression ( su* p5alties at ea*
 /ep ( ! det]m9ation1 assessm5t1 &      
review processes1 z well z ! f9al result
 ) respect to su* p5alties4