# 119-s-588: Presidential Audit and Tax Transparency Act

119-s-588, Presidential Audit and Tax Transparency Act, is a 119th Congress bill sponsored by Sen. Wyden, Ron [D-OR] (D-OR); status introduced; PRIA reads it as touching household money (as of 2025-12-21).

- Canonical: https://policyrisk.com/legislation/119-s-588
- As of: 2025-12-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-588
- Congress: 119
- Title: Presidential Audit and Tax Transparency Act
- Status: introduced
- Introduced: 2025-02-13
- Sponsor: Sen. Wyden, Ron [D-OR] (D-OR)
- Cosponsors: 8
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2025-12-21

## Summary

**Mandatory IRS audits plus public Internet posting of Presidents' tax returns and related audit materials.** The bill requires the Treasury to examine each Presidential income tax return quickly after filing and to publish returns, periodic and final audit reports, and specified audit materials online with limited redactions. - Presidents, spouses, estates, trusts, and entities they control face automatic IRS examinations for returns tied to periods in office and for amended returns. If a return is not filed within 60 days of its due date it is treated as subject to examination, and an initial public report must appear within 90 days after filing. - Major-party Presidential candidates must include the three most recent taxable years of applicable federal returns in their required filings. The campaign report must be amended within 15 days after nomination if those returns were not already submitted. - The public gets repeated transparency: the IRS must post initial, periodic (every 180 days), extension, and final reports and must publish enumerated audit materials within 90 days after an examination finishes. The Office of Government Ethics and the Federal Election Commission can obtain copies and may disclose returns publicly with required redactions.

## Cosponsors (8)

- Sen. Klobuchar, Amy [D-MN] (D-MN), 2025-02-13T00:00:00.000Z
- Sen. Kaine, Tim [D-VA] (D-VA), 2025-02-13T00:00:00.000Z
- Sen. Warren, Elizabeth [D-MA] (D-MA), 2025-02-13T00:00:00.000Z
- Sen. Merkley, Jeff [D-OR] (D-OR), 2025-02-13T00:00:00.000Z
- Sen. Whitehouse, Sheldon [D-RI] (D-RI), 2025-02-13T00:00:00.000Z
- Sen. Sanders, Bernard [I-VT] (I-VT), 2025-02-13T00:00:00.000Z
- Sen. Cantwell, Maria [D-WA] (D-WA), 2025-02-13T00:00:00.000Z
- Sen. Van Hollen, Chris [D-MD] (D-MD), 2025-02-13T00:00:00.000Z

## Provisions PRIA read

- Sharing returns with ethics and FEC: benefit, low. This bill would let Treasury provide Presidential returns to the Office of Government Ethics and candidate returns to the Federal Election Commission on written request. OGE and the FEC could give copies to their officers and employees and could publish the returns to the public with required redac…
- Candidates must provide three years' returns: cost, low. This bill would require covered Presidential candidates and covered individuals (serving Presidents) to include copies of the three most recent taxable years' applicable federal income tax returns with their required reports. Nominees would have 15 days after nomination to file the returns, and nom…
- Mandatory IRS audits and reports: cost, low. This bill would require the Treasury Secretary to examine each Presidential income tax return "as rapidly as practicable" after filing. If a required return is not filed within 60 days after the due date, the IRS would treat it as subject to examination. The IRS would publish an initial public repo…
- Penalties for falsifying or not filing: cost, low. This bill would make knowingly and willfully falsifying, or knowingly and willfully failing to file, required Presidential or candidate tax returns a basis for penalties, disqualification, and enforcement under existing chapter 131 rules. Existing enforcement and disqualification tools in section 1…
- Which tax returns count for Presidents: cost, low. This bill would define which tax returns count as "Presidential" returns. It would include returns of the President, a spouse (as defined), corporations or partnerships the President controls, estates, and trusts, plus schedules and attachments. It would treat any return whose year, due date (inclu…

## Related bills

- 119-s-3869: Healthy Families Act
- 119-s-51: Washington, D.C. Admission Act
- 119-s-5108: Right to IVF Act of 2026
- 119-s-1503: Equality Act
- 119-s-852: Richard L. Trumka Protecting the Right to Organize Act of 2025
- 119-sres-854: A resolution designating September 2026 as "National Voting Rights Month".

## Sources
- [119-s-588 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/588)

## Related
- [119-s-3869: Healthy Families Act](https://policyrisk.com/legislation/119-s-3869)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108)
- [119-s-1503: Equality Act](https://policyrisk.com/legislation/119-s-1503)
- [119-s-852: Richard L. Trumka Protecting the Right to Organize Act of 2025](https://policyrisk.com/legislation/119-s-852)
- [119-sres-854: A resolution designating September 2026 as "National Voting Rights Month".](https://policyrisk.com/legislation/119-sres-854)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-588 (as of 2025-12-21).