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S 765 111th Congress Senate Taxation Tax administration and collection, taxpayers

A bill to amend the Internal Revenue Code of 1986 to allow the Secretary of the Treasury to not impose a penalty for failure to disclose reportable transactions when there is reasonable cause for…

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A bill to amend the Internal Revenue Code of 1986 to allow the Secretary of the Treasury to not impose a penalty for failure to disclose reportable transactions when there is reasonable cause for such failure, to modify such penalty, and for other purposes.

Introduced: April 1, 2009 See on congress.gov
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 1, 2009
Read twice and referred to the Committee on Finance.
Apr 1, 2009
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to: (1) allow a waiver of the penalty for failure to disclose reportable transactions (i.e., transactions which have a potential for tax avoidance or evasion) if such failure is due to reasonable cause and not due to willful neglect; (2) revise the amount of the penalty for such failure; and (3) limit the imposition of such penalty to the taxpayer (currently, any person).

Reaffirms the authority of the Commissioner of Internal Revenue to rescind all or any portion of the penalty for failure to furnish information regarding reportable transactions.

What's happening now April 1, 2009

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 2143 Identical bill To amend the Internal Revenue Code of 1986 to allow the Secretary of the Treasury to not impose a penalty for failure t…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Crapo, Mike
Idaho · Apr 1, 2009
Cite this page click to expand
APA
U.S. Congress. (2026). S. 765: A bill to amend the Internal Revenue Code of 1986 to allow the Secretary of the Treasury to not impose a penalty for failure to disclose reportable transactions when there is reasonable cause for such failure, to modify such penalty, and for other purposes.. 111th Congress. Open America. https://openamerica.io/bill/111-S-765/
MLA
"S. 765: A bill to amend the Internal Revenue Code of 1986 to allow the Secretary of the Treasury to not impose a penalty for failure to disclose reportable transactions when there is reasonable cause for such failure, to modify such penalty, and for other purposes.." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-S-765/.
Bluebook (legal)
S. 765, 111th Cong. (2026), https://openamerica.io/bill/111-S-765/.
Markdown link
[S. 765: A bill to amend the Internal Revenue Code of 1986 to allow the Secretary of the Treasury to not impose a penalty for failure to disclose reportable transactions when there is reasonable cause for such failure, to modify such penalty, and for other purposes.](https://openamerica.io/bill/111-S-765/)
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