To amend the Internal Revenue Code of 1986 to postpone tax deadlines and reimburse paid late fees for United States nationals who are unlawfully or wrongfully detained or held hostage abroad, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to postpone tax deadlines and reimburse paid late fees for United States nationals who are unlawfully or wrongfully detained or held hostage abroad, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Transportation, Foreign Policy.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section id8ea53444b6fc44e0b6bcda111b16f8ec: 1. Short title This Act may be cited as the Stop Tax Penalties on American Hostages Act.
- Section id5274db35b0a5463cb7bd3ec53aebc10a: 2. Postponement of tax deadlines for hostages and individuals wrongfully detained abroad Chapter 77 of the Internal Revenue Code of 1986 is amended by...
- Section idf7abd736d9294b6ba4d57a63abb5d5c6: 7511. Time for performing certain acts postponed for hostages and individuals wrongfully detained abroad Any applicable individual shall be entitled to the...
- Section id7ee4e4d702ed4f67baf5cfd73d37dde2: 3. Reimbursement and abatement of penalties and fines paid by eligible individuals Not later than January 1, 2024, the Secretary (in consultation with the...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to postpone tax deadlines and reimburse paid late fees for United States nationals who are unlawfully or wrongfully detained or held hostage abroad, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Transportation, Foreign Policy
Primary Purpose
This bill, To amend the Internal Revenue Code of 1986 to postpone tax deadlines and reimburse paid late fees for United States nationals who are unlawfully or wrongfully detained or held hostage abroad, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Coons (for himself and Mr. Rounds) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary_of_treasury"
- → Secretary of the Treasury
Key Definitions
Terms defined in this bill
the period— beginning on January 1, 2021
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology