Tax Court Parity Act
A bill to amend the Internal Revenue Code of 1986 to clarify the authority of the Tax Court to order relief from a judgment or order.
The Tax Court Parity Act, or SB4761, is a bill that aims to clarify the authority of the Tax Court to order relief from a judgment or order. This means it seeks to make sure the Tax Court has the power to correct or adjust decisions it has made. This bill was introduced on June 11, 2026, by Tim Scott (Republican) and Margaret Hassan (Democrat), who are co-sponsoring the legislation.
If passed, this bill would primarily affect the Tax Court and taxpayers involved in cases where relief from a judgment or order is being sought. It would ensure that the Tax Court has clear authority to address such requests, potentially impacting the resolution of tax disputes. The bill is currently in its early stages, having been introduced and referred to the Committee on Finance for further review.
As of June 11, 2026, the bill has been read twice in the Senate and referred to the Committee on Finance. This means that the bill is now being reviewed by the committee, which will decide the next steps in the legislative process.
