Digital Assets Voluntary Disclosure Program Act

This bill directs the Treasury Department to create, within 12 months, a program that lets taxpayers who did not properly report digital assets such as cryptocurrency correct their past tax returns. Participants would file amended returns, pay the unpaid tax plus interest, and pay a penalty based on a percentage of the unpaid tax. Taxpayers who certify under penalty of perjury that their violations were not fraudulent or willful would pay lower penalty rates. Participants who meet the requirements would avoid certain other tax penalties, and those who do not certify would also be protected from having their disclosed information used for certain criminal referrals or prosecutions.

Full text and official record on Congress.gov

Sponsors

• Aaron Bean Republican sponsor
• 0 cosponsors