Preventing Tax Fraud and Identity Theft Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 5133 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 5133

   To amend the Internal Revenue Code of 1986 to modify the time for
                  filing certain information returns.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             July 27, 2026

  Ms. Hassan (for herself and Mr. Grassley) introduced the following
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL

   To amend the Internal Revenue Code of 1986 to modify the time for
                  filing certain information returns.

    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 ``Preventing Tax Fraud and Identity
Theft Act''.

SEC. 2. TIME FOR FILING CERTAIN INFORMATION RETURNS.

    (a) In General.--Section 6071(b) of the Internal Revenue Code of
1986 is amended--
            (1) by striking ``Returns made under'' and inserting the
        following:
            ``(1) In general.--Returns made under'', and
            (2) by adding at the end the following new paragraph:
            ``(2) Special rule for certain returns.--
                    ``(A) In general.--In the case of any return to
                which this paragraph applies and which is filed
                electronically, such return shall be filed on or before
                January 31 of the year following the calendar year to
                which such return relates.
                    ``(B) Returns.--This paragraph shall apply to any
                return required to be filed under section 6041 (other
                than returns and statements required to be filed with
                respect to nonemployee compensation), 6042, 6047(d),
                6049, 6050F, or 6050W.''.
    (b) Gambling Winnings.--Section 6071 of the Internal Revenue Code
of 1986 is amended by redesignating subsection (d) as subsection (e)
and by inserting after subsection (c) the following new subsection:
    ``(d) Returns Relating to Gambling Winnings.--Returns required
under section 6051 by reason of section 3402(q)(7) shall be filed on or
before January 31 of the year following the calendar year to which such
returns relate.''.
    (c) IRA Reporting.--Section 408(i)(1) of the Internal Revenue Code
of 1986 is amended by inserting ``(but not later than January 31 of the
calendar year following the calendar year to which reports relate in
the case of reports relating to distributions)'' after ``at such
time''.
    (d) Effective Date.--The amendments made by this section shall
apply to returns relating to calendar years after December 31, 2027.
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