End Tax Penalties on American Hostages Act postpones tax deadlines and refunds penalties for U.S.

The End Tax Penalties on American Hostages Act amends the Internal Revenue Code to disregard the period during which a U.S. national was unlawfully or wrongfully detained or held hostage abroad when determining tax liabilities. It requires the Secretary of the Treasury to update databases and information systems to suspend interest, penalties, and collection activities for these individuals. The bill also mandates the establishment of a program to allow eligible individuals or their dependents to apply for refunds or abatements of penalties and interest.

End Tax Penalties on American Hostages Act postpones tax deadlines and refunds penalties for U.S.

The End Tax Penalties on American Hostages Act amends the Internal Revenue Code to disregard the period during which a U.S. national was unlawfully or wrongfully detained or held hostage abroad when determining tax liabilities. It requires the Secretary of the Treasury to update databases and information systems to suspend interest, penalties, and collection activities for these individuals. The bill also mandates the establishment of a program to allow eligible individuals or their dependents to apply for refunds or abatements of penalties and interest.