Stop CHEATERS Act

Summary

Stop Corporations and High Earners from Avoiding Taxes and Enforce the Rules Strictly Act or the Stop CHEATERS Act This bill provides additional appropriations through FY2031 for the enforcement activities of the Internal Revenue Service and to increase audits yearly until 2025 to reach specified targets. It also provides additional appropriations for taxpayer services and operations support. The bill establishes new reporting requirements for certain banks or other financial institutions and increases enforcement penalties for accuracy-related underpayments of tax up to a maximum of 40% of the underpayment for taxpayers with a taxable income greater than $5 million.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 22 February 2021

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• Introduced in House (PDF)

  Introduced in House · EN · 22 February 2021

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 22 February 2021

  Open at official source

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