Presidential Tax Disclosure Act of 2016

To require the disclosure of the Federal income tax returns of the President. 1. Short title This Act may be cited as the Presidential Tax Disclosure Act of 2016 2. Disclosure of Federal income tax returns of the President (a) In general Any individual holding the office of President shall submit to the Director of the Office of Government Ethics a copy of each Federal income tax return filed by such individual with the Internal Revenue Service for any taxable year ending during the period such individual holds such office. Such copy shall be so submitted not later than the earlier of the date which is 90 days after such return is so filed or the end of the calendar year in which such return is so filed. (b) Application to certain prior year returns Not later than 90 days after an individual first assumes the office of President, such individual shall submit to the Director of the Office of Government Ethics a copy of each Federal income tax return filed by such individual with the Internal Revenue Service for the three most recent taxable years ending before the date on which such individual first assumes such office. (c) Public disclosure In the case of any Federal income tax return received by the Director of the Office of Government Ethics under subsection (a) or (b) of this section or section 6103(l)(23) (1) make such return publicly available on the Internet; and (2) submit such return to the Committees on the Judiciary, Ways and Means, and Oversight and Government Reform of the House of Representatives and to the Committees on the Judiciary and Finance of the Senate. (d) Special rules (1) Disclosure of entire return Any reference in this section to a Federal income tax return includes all schedules, supplements, amendments, and attachments with respect to such return. In the case of any such schedule, supplement, amendment, or attachment which is not filed with the Internal Revenue Service on the same date as the return, such schedule, supplement, amendment, or attachment shall be treated as a separate return for purposes of determining the deadline for submission and disclosure under this section. (2) Permitted redactions No information may be redacted from any return submitted or disclosed under this section, except the following information: (A) Any Social Security number of any individual. (B) Any taxpayer identification number of any person. (C) Any account identification number. (D) Any name of any dependent of the taxpayer. (3) Application to spouses (A) Joint returns In the case of any return which is filed jointly with the spouse of any individual, the entire return shall be treated as the return of such individual for purposes of this section. (B) Separate returns If the spouse of any individual to whom subsection (a) applies files a Federal income tax return which is separate from such individual, this section and section 6103(l)(23) (e) Enforcement by Attorney General (1) The Attorney General may bring a civil action in any appropriate United States district court against any individual who knowingly falsifies or who knowingly fails to submit or disclose any information that such individual is required to submit or disclose pursuant to this section or section 6103(l)(23) (2) It shall be unlawful for any person to knowingly— (A) falsify any information that such person is required to submit or disclose under this section or section 6103(l)(23) (B) fail to so submit or disclose such information. (3) Any person who— (A) violates paragraph (2)(A) shall be fined not more than $50,000, imprisoned for not more than 6 months, or both, and (B) violates paragraph (2)(B) shall be fined not more than $50,000, imprisoned for not more than 6 months or both. (4) The Director of the Office of Government Ethics, or any Committee referred to in subsection (c)(2), may refer to the Attorney General the name of any individual which such Director or Committee has reasonable cause to believe has violated paragraph (2). (f) Alternative disclosure by Secretary of the Treasury Section 6103(l) (23) Disclosure of tax returns of the President (A) In general If any Federal income tax return required to be submitted to the Director of the Office of Government Ethics under subsection (a) or (b) of section 2 of the Presidential Tax Disclosure Act of 2016 (B) Redactions; etc Rules similar to the rules of section 2(d) of the Presidential Tax Disclosure Act of 2016 (C) Redisclosure Return information disclosed under subparagraph (A) may be redisclosed by the Director of the Office of Government Ethics as provided in section 2(c) of the Presidential Tax Disclosure Act of 2016 . (g) Effective date This section, and the amendments made by this section, shall apply with respect to individuals assuming the office of President after December 31, 2016.

Summary: Presidential Tax Disclosure Act of 2016 This bill requires any individual holding the office of President to submit federal tax returns to the Office of Government Ethics (OGE). The individual must submit: (1) each return filed with the Internal Revenue Service (IRS) for any year ending while the individual is President, and (2) each return filed with the IRS for the three years before the individual assumed office. After receiving the returns, the OGE must: (1) make the returns publicly available on the Internet, and (2) submit the returns to specified congressional committees. No information may be redacted from the disclosed returns except for: (1) Social Security, tax identification, and account identification numbers; and (2) the names of any dependent of the taxpayer. The bill establishes civil and criminal penalties to enforce the disclosure requirements. It also amends the Internal Revenue Code to permit the IRS to disclose to the OGE any federal tax return that is required to be disclosed by this bill, but has not been submitted to the OGE within a specified deadline.