,,ii  #aai? ,,congress  #b;d ,session   
,s4 #eadc  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #bh1 #bjbf,mr4   
,b5net 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$ural requirem5ts = p5alties &      
disall[ance p]iods4  #a4 ,modification (
 proc$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$1 & no disall[ance p]iod %all   
take effect1 unless-- 7,a7 ! decision 7z
 def9$ by ! ,secret>y 9 regulations7 to 
apply su* p5alty or disall[ance p]iod1 z
 applicable1 is p]sonally approv$ 79    
writ+ on an electronic =m7 by-- 7i7 !   
imm$iate sup]visor ( ! individual mak+  
su* decision1 or  7ii7 ! ,int]nal       
,rev5ue ,s]vice ,(fice ( ,s]vicewide    
,p5alties 7or any successor             

organization71 &  7,b7 ! approval       
describ$ 9 subp>agraph 7,a7 is obta9$ on
 or be=e ! date any appealable 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   
,appealable notice ,= purposes ( ?is    
subsection1 ! t]m appealable notice     
means ! fir/ writt5 notice issu$ to a   
taxpay] t provides ! taxpay] an         
opportunity to-- 7,a7 appeal ! decision 
to ! ,int]nal ,rev5ue ,s]vice ,indep5d5t
 ,(fice ( ,appeals1 or  7,b7 petition a 
,f$]al c\rt = review ( ! decision4  4   
7b7 ,disall[ance p]iod ,section #fgea ( 
! ,int]nal ,rev5ue ,code ( #aihf is     
am5d$ 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 :i* is #ab mon?s 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