Title: Tax Transparency Act of 2021
Policy area: Taxation

Summary:
Tax Transparency Act of 2021
This bill requires the President, the Vice President, Members of Congress, and candidates for such offices to publicly disclose their individual tax returns for the previous seven years.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 664 Introduced in House (IH)]

<DOC>






117th CONGRESS
  1st Session
                                H. R. 664

To amend the Internal Revenue Code of 1986 to require public disclosure 
  of individual tax returns of the President, the Vice President, and 
         Members of Congress, and candidates for such offices.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 1, 2021

  Mr. Posey introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to require public disclosure 
  of individual tax returns of the President, the Vice President, and 
         Members of Congress, and candidates for such offices.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Tax Transparency Act of 2021''.

SEC. 2. DISCLOSURE OF RETURNS AND RETURN INFORMATION OF CANDIDATES FOR 
              PRESIDENT, VICE PRESIDENT, OR CONGRESS.

    (a) In General.--Subsection (k) of section 6103 of the Internal 
Revenue Code of 1986 is amended by adding at the end the following new 
paragraph:
            ``(16) Disclosure of returns and return information of 
        candidates for president, vice president, or congress.--
                    ``(A) In general.--The Secretary shall disclose and 
                make publicly available returns and return information 
                of--
                            ``(i) any candidate who designates a 
                        principal campaign committee under section 
                        302(e)(1) of the Federal Election Campaign Act 
                        of 1971 or, in the case of a candidate for the 
                        office of Vice President, any candidate for 
                        such office under such Act, and
                            ``(ii) any individual who, on April 15th of 
                        a calendar year, is the President, the Vice 
                        President, or a Member of Congress.
                    ``(B) Exceptions.--The information disclosed under 
                subparagraph (A) shall not include any Social Security 
                number, any financial account number, the name of any 
                individual under age 18, or any home address of any 
                individual (other than the city and State in which such 
                address is located).
                    ``(C) Timing.--The Secretary shall make the 
                disclosure required by paragraph (A)--
                            ``(i) in the case of a candidate described 
                        in clause (i) of such paragraph, not later than 
                        the later of--
                                    ``(I) the date that is 15 days 
                                after the designation described in such 
                                clause (or in the case of a candidate 
                                for the office of Vice President, 15 
                                days after such individual becomes such 
                                a candidate), or
                                    ``(II) the date that is 15 days 
                                after the date of the enactment of this 
                                paragraph, and
                            ``(ii) in the case of an individual 
                        described in clause (ii) of such paragraph, not 
                        later than April 30th of the year described in 
                        such clause.
                    ``(D) Scope.--The returns and return information 
                disclosed under subparagraph (A) shall include any 
                return filed during the 7-year period ending on--
                            ``(i) in the case of a candidate described 
                        in paragraph (A)(i), the date of the 
                        designation described in such clause (or in the 
                        case of a candidate for the office of Vice 
                        President, the day such individual becomes such 
                        a candidate), and
                            ``(ii) in the case of an individual 
                        described in paragraph (A)(ii), April 15th of 
                        the year described in such clause.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to individuals who are candidates on, and to individuals holding office 
on, dates after the date of the enactment of this Act.
                                 <all>