Stop CHEATERS Act
Summary
Stop Corporations and High Earners from Avoiding Taxes and Enforce the Rules Strictly Act or the Stop CHEATERS Act This bill provides additional appropriations through FY2031 for the enforcement activities of the Internal Revenue Service and to increase audits yearly until 2025 to reach specified targets. It also provides additional appropriations for taxpayer services and operations support. The bill establishes new reporting requirements for certain banks or other financial institutions and increases enforcement penalties for accuracy-related underpayments of tax up to a maximum of 40% of the underpayment for taxpayers with a taxable income greater than $5 million.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2021
Committee Review
Floor Vote
President
Introduced Feb 22, 2021
Last action Feb 22, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Feb 22, 2021
Committee
Referred to the House Committee on Ways and Means.
lower
Feb 22, 2021
Introduced
Introduced in House
lower
1 primary · 7 co-sponsors
Sponsors
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