President-Elect Release of Tax Return Act of 2017
President-Elect Release of Tax Return Act of 2017
This bill requires the President-elect to submit a copy of each federal income tax return filed with the Internal Revenue Service (IRS) for the four most recent taxable years to the chairs and ranking minority members of: (1) the House Administration Committee, and (2) the Senate Rules Committee. The returns must be submitted no later than the date of the meeting of the Senate and House of Representatives to count the electoral votes for President and Vice President.
The bill amends the Internal Revenue Code to permit the IRS to disclose the required tax returns to the chairs and ranking minority members of the two congressional committees if the President-elect does not submit the returns by the deadline.
The President-elect may redact from the returns any: (1) Social Security number, (2) taxpayer identification number, (3) account identification number, and (4) name of any dependent of the taxpayer. The IRS must make the redactions if it discloses the returns.
The chairs and ranking members of the two committees may disclose any information contained in a tax return submitted pursuant to this bill.
Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.