Tax the Grift Act imposes a 100% tax on payments from settlement funds resulting from a civil action by the President against the IRS.

The Tax the Grift Act amends the Internal Revenue Code to impose a 100% tax on any qualified settlement fund payments received by taxpayers. A qualified settlement fund payment is defined as any amount received from a fund established due to a civil action filed by the President of the United States against the Internal Revenue Service. The tax applies to amounts received after the enactment of this Act. The Act also excludes these payments from gross income and prevents any deduction from income tax.

Tax the Grift Act imposes a 100% tax on payments from settlement funds resulting from a civil action by the President against the IRS.

The Tax the Grift Act amends the Internal Revenue Code to impose a 100% tax on any qualified settlement fund payments received by taxpayers. A qualified settlement fund payment is defined as any amount received from a fund established due to a civil action filed by the President of the United States against the Internal Revenue Service. The tax applies to amounts received after the enactment of this Act. The Act also excludes these payments from gross income and prevents any deduction from income tax.