Presidential Audit and Tax Transparency Act

Summary

Requires the IRS to audit and publicly post Presidents' federal income tax returns, related audit reports, and broad audit materials on the Internet, with set deadlines for initial, periodic, and final reports. Also requires Presidents and major‑party Presidential nominees to include copies of the three most recent years of federal income tax returns in required ethics or FEC filings, authorizes IRS disclosure of those returns to OGE/FEC if the filer fails to provide them, and creates criminal penalties for willful falsification or failure to file those required disclosures.

• Mandates IRS examinations and public online posting of Presidents' federal income tax returns, audit reports, and broad audit materials with set 90/180/90 reporting deadlines.
• Requires Presidents and specified Presidential candidates to include the three most recent years of federal income tax returns in required ethics or FEC filings.
• Authorizes the IRS to provide copies of required returns to the Office of Government Ethics or the FEC if a filer fails to supply them, and directs OGE/FEC to post returns publicly after redactions.
• Amends IRC section 6103 to permit disclosure to OGE/FEC and to authorize public disclosure by those agencies under the new rules.
• Applies prospectively to returns, amendments, supplements, and failures to file occurring after enactment.
• Defines covered individuals, covered candidates, and controlled entities using cross‑references to existing IRC definitions and includes a four‑taxable‑year exception to certain attribution rules.
• Adds criminal‑fraud language to reach willful falsification or failure to file the required disclosures.
• Does not explicitly appropriate new funds; it creates administrative duties for IRS, OGE, and FEC and broadens public access to tax and audit materials.
• Permits redactions of specified identity information but otherwise allows broad publication of audit materials tied to Presidential returns.