Preventing Tax Fraud and Identity Theft Act

Margaret Wood Hassan

Democrat · NH · Senator

Source: Congress.gov · FEC

• Chuck Grassley (R-IA)Original· 2026-07-27

Read twice and referred to the Committee on Finance.

2026-07-27

Source: Congress.gov

The proposal would change the deadlines for when businesses must submit certain tax information forms to the IRS, potentially giving companies more time to gather and file paperwork about employee wages, payments to contractors, and other financial details. The exact impact would depend on which forms are affected and how much the deadlines shift, but the change could reduce administrative burden on employers and payroll departments while potentially affecting when the IRS receives this information.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 5133 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 5133 To amend the Internal Revenue Code of 1986 to modify the time for filing certain information returns. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES July 27, 2026 Ms. Hassan (for herself and Mr. Grassley) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to modify the time for filing certain information returns. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Preventing Tax Fraud and Identity Theft Act''. SEC. 2. TIME FOR FILING CERTAIN INFORMATION RETURNS. (a) In General.--Section 6071(b) of the Internal Revenue Code of 1986 is amended-- (1) by striking ``Returns made under'' and inserting the following: ``(1) In general.--Returns made under'', and (2) by adding at the end the following new paragraph: ``(2) Special rule for certain returns.-- ``(A) In general.--In the case of any return to which this paragraph applies and which is filed electronically, such return shall be filed on or before January 31 of the year following the calendar year to which such return relates. ``(B) Returns.--This paragraph shall apply to any return required to be filed under section 6041 (other than returns and statements required to be filed with respect to nonemployee compensation), 6042, 6047(d), 6049, 6050F, or 6050W.''. (b) Gambling Winnings.--Section 6071 of the Internal Revenue Code of 1986 is amended by redesignating subsection (d) as subsection (e) and by inserting after subsection (c) the following new subsection: ``(d) Returns Relating to Gambling Winnings.--Returns required under section 6051 by reason of section 3402(q)(7) shall be filed on or before January 31 of the year following the calendar year to which such returns relate.''. (c) IRA Reporting.--Section 408(i)(1) of the Internal Revenue Code of 1986 is amended by inserting ``(but not later than January 31 of the calendar year following the calendar year to which reports relate in the case of reports relating to distributions)'' after ``at such time''. (d) Effective Date.--The amendments made by this section shall apply to returns relating to calendar years after December 31, 2027. <all>

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