Referred to the House Committee on Ways and Means.
Creates a Treasury/IRS Digital Assets Voluntary Disclosure Program allowing taxpayers with past failures to report or tax digital-asset transactions to apply, file amended returns for affected years, and pay deficiencies, interest, and a specified "digital assets violation" penalty. The program defines two participant categories—certified (certify no fraud or willfulness) and uncertified—and provides penalty schedules, limited penalty waivers, non‑use protections for disclosed information, an application fee authority, and delegated regulatory authority for the Secretary.
Liberals worry program is an amnesty; centrists focus on revenue and pragmatism.
Relative to its intended legislative type, this bill creates a substantive new voluntary disclosure regime for digital-asset-related tax noncompliance with a fairly detailed statutory framework for eligibility, remedial steps, and penalty calculations, while delegating many operational and procedural specifics to the Secretary.
Creates a Treasury/IRS Digital Assets Voluntary Disclosure Program allowing taxpayers with past failures to report or tax digital-asset transactions to apply, file amended returns for affected years, and pay deficiencies, interest, and a specified "digital assets violation" penalty.
The program defines two participant categories—certified (certify no fraud or willfulness) and uncertified—and provides penalty schedules, limited penalty waivers, non‑use protections for disclosed information, an application fee authority, and delegated regulatory authority for the Secretary.
The bill specifies lookback periods (generally 6 years, 3 years for certified participants), allows installment payments, and permits the Secretary to reduce or waive penalties for justice or reasonable cause.
Technically focused and administrable which aids prospects, but penalty-waiver/amnesty optics and revenue consequences create political friction.
Relative to its intended legislative type, this bill creates a substantive new voluntary disclosure regime for digital-asset-related tax noncompliance with a fairly detailed statutory framework for eligibility, remedial steps, and penalty calculations, while delegating many operational and procedural specifics to the Secretary.
Liberals worry program is an amnesty; centrists focus on revenue and pragmatism.
These are examples from the analysis, not a ranked list of the most-affected groups.
Liberals worry program is an amnesty; centrists focus on revenue and pragmatism.
Likely cautiously supportive of increased tax compliance and revenue, but concerned the program may be too lenient for wealthy crypto actors.
Will focus on fairness, equity between taxpayers, and ensuring serious fraud is not effectively immunized.
Pragmatic approval: sees the program as a reasonable enforcement tool to bring unpaid taxes into compliance and raise revenue, while structuring incentives for truthful disclosure.
Concerned about clear administration and fairness, but views regulatory discretion as workable.
Mixed to skeptical: supports stronger tax enforcement and revenue collection, but worries the bill grants the IRS new discretionary leniency and non‑prosecution protections for digital asset holders.
Concerned about expanded IRS authority and special carve‑outs for a single sector.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Technically focused and administrable which aids prospects, but penalty-waiver/amnesty optics and revenue consequences create political friction.
The bill has not accumulated any surfaced votes yet.
Liberals worry program is an amnesty; centrists focus on revenue and pragmatism.
Technically focused and administrable which aids prospects, but penalty-waiver/amnesty optics and revenue consequences create political fri…
Relative to its intended legislative type, this bill creates a substantive new voluntary disclosure regime for digital-asset-related tax noncompliance with a fairly detailed statutory framework for eligibility, remedial…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.